NUMB:
990941
VERS:
ORIGINAL
REF:
921805
XXBY:
THE CHAIR
TITL:
Resolution removing the reversionary clause from a Warranty Deed for the property located at 437 North 31st Street, in the 4th Aldermanic District. (DCD-Real Estate)
ANLS:
- Analysis -
This resolution removes the reversionary clause from a Warranty Deed for a former City-owned, improved, tax deed property.
BODY:
Whereas, The City of Milwaukee conveyed to Daryl Alberti and Lisa Alberti, an improved, tax deed property located at 437 North 31st Street via a Warranty Deed dated April 22, 1993, pursuant to Common Council File No. 921805 adopted on March 23, 1993; and
Whereas, Said deed of conveyance contained a reversionary clause that the property conveyed therein "shall be brought into full compliance with all applicable building codes, and ordinances, within one (1) year after the date of closing," or said deed is forfeit and the property returns to the City of Milwaukee without any further action; and
Whereas, Removal of the reversionary clause will allow the current owners, Daryl Alberti and Lisa Alberti, to provide a deed of conveyance for said property without an encumbrance relating to the City of Milwaukee; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee that the proper City officials are authorized and directed to execute the necessary legal documents to remove the reversionary clause from the Warranty Deed dated April 22, 1993, for said property to provide an unencumbered deed of conveyance.
ZDPT:
DFTR:
DCD-Real Estate
MR:jvg
09/28/99