Chapter 81

COL12010618GCA BUSINESS STRUCTURE &FUNCTION CH. 81TRANSFER OF OBLIGA TIONS 1CHAPTER 81 TRANSFER OF OBLIGA TIONS § 81101. When Burdens Transferable. § 81102. Rights Transferable. § 81103. Nonnegotiable Instruments may be Transferred. § 81104. Covenants Running with the Land. § 81105. What Covenants Run with Land. § 81106. Covenants to Benefit Property . § 81107. Covenants of W arranty Run with Land. § 81108. Covenants with Land: Assigns Named. § 81109. Who are Bound by Covenants. § 81110. Who are not Bound. § 81111. Apportionment of Covenants. § 81112. Transfer of Obliga tions: Land Covenants. § 81101. When Burdens T ransferable. The burden of an obligation may be transferred with the consent of the party entitled to its benefit, but not otherwise, except as provided in § 81 110 of this Chapter . SOURCE: CC § 1457. § 811 02. Rights T ransferable. A right arising out of an obligation is the property of the person to whom it is due, and may be trans ferred as such. SOURCE: CC § 1458. § 81103. Nonnegotiable Instruments may be T rans ferred. A nonnegotiable written contract for the payment of money or personal property may be trans ferred by endorse ment, in like manner with negotiable

103. Nonnegotiable Instruments may be T rans ferred. A nonnegotiable written contract for the payment of money or personal property may be trans ferred by endorse ment, in like manner with negotiable instruments. Such en dorsement shall transfer all the rights of the assignor under the instrument to the assignee, subject to all equities and defenses existing in favor of the maker at the time of the endorsement. SOURCE: CC § 1459. § 81104. Covenants Running with the Land. Certain covenants, contained in grants of estates in real property , are appurtenant to such es tates, and pass with the m, so as to bind the assigns of COL12010618GCA BUSINESS STRUCTURE &FUNCTION CH. 81TRANSFER OF OBLIGA TIONS 2the covenantor and to vest in the assigns of the covenantee, in the same manner as if they had personally entered into them. Such cove nants are said to run with the land. SOURCE: CC § 1460. NOTE: The law regarding real p roperty is found in Title 21 of this Code. § 81105. What Covenants Run with Land. The only covenants which run with the land are those specified in this Chapter, and those which are incidental thereto. SOURCE: CC § 1461. § 81106. Covenants to Benefit Pr operty.

ants Run with Land. The only covenants which run with the land are those specified in this Chapter, and those which are incidental thereto. SOURCE: CC § 1461. § 81106. Covenants to Benefit Pr operty. Every cove nant contained in a grant of an estate in real proper ty, which is made for the direct benefit of the property , or some part of it then in existence, runs with the land. SOURCE: CC § 1462. § 81107. Covenants of W arranty Run with Land. The last section includes covenants 'of warran ty,' 'for quiet enjoy - ment,' or for further assur ance on the part of a grantor, and covenants for the payment of rent, or of taxes or assess ments upon the land, on the part of the grantee. SOURCE: CC § 14 63. § 81108. Covenants with Land: Assigns Named. A covenant for the addition of some new thing to real property , or for the direct benefit of some part of the property not then in existence or annexed thereto, when contained in a grant of an estate in su ch property , and made by the covenantor expressly for his assigns or to the assigns of the covenantee, runs with the land so far only as the assigns thus mentioned are concerned. SOURCE: CC § 1464. § 81109. Who are Bound by Covenants.

ntor expressly for his assigns or to the assigns of the covenantee, runs with the land so far only as the assigns thus mentioned are concerned. SOURCE: CC § 1464. § 81109. Who are Bound by Covenants. A covenant running with the land binds those only who acquire the whole estate of the covenantor in some part of the proper ty. SOURCE: CC § 1465. COL12010618GCA BUSINESS STRUCTURE &FUNCTION CH. 81TRANSFER OF OBLIGA TIONS 3§ 81110. Who are not Bound. No one, merely by reason of having acquired an estate subject to a covenant running with the lan d, is liable for a breach of the covenant before he acquired the estate, or after he has parted with it, or ceased to enjoy its benefits. SOURCE: CC § 1466. § 811 11. Apportionment of Covenants. When several persons, holding by several titles, are subjec t to the burden or entitled to the benefit of a covenant running with the land, it must be apportioned among them according to the value of the prope rtysubject to it held by them respective ly, if such value can be ascer tained, and if not, then according to their respective interests in point of quantity . SOURCE: CC § 1467. § 81112. T ransfer of Obligations: Land Cove nants.

espective ly, if such value can be ascer tained, and if not, then according to their respective interests in point of quantity . SOURCE: CC § 1467. § 81112. T ransfer of Obligations: Land Cove nants. A covenant made by the owner of land with the owner of other land, to do or refrain from doing some act on his own land, which doi ng or refraining is expressed to be for the benefit of the land of the covenantee, and which is made by the covenantor expressly for his assigns or to the assigns of the covenantee, runs with both of such parcels of land. SOURCE: CC § 1468. NOTE: No 1970 Civil Code '§ 1469 -1472 existed. ----------COL12010618GCA BUSINESS STRUCTURE &FUNCTION CH. 81TRANSFER OF OBLIGA TIONS