Covenants and Restrictions
WHEREAS American Acres, Inc., a Minnesota corporation, is the owner of all the land as described on this website (an acre of land, more or less, in each of the 50 states of the United States), and is desirous of "subdividing" these parcels into one square inch lots and issuing "State Deeds" and "Fifty State Deeds" (aka "Deeds to the United States") and
WHEREAS American Acres, Inc. has received "No Action" letters from the United States Securities and Exchange Commission (SEC) and the New York State Department of Law acknowledging that the issuance and/or sale of these deeds does not constitute the sale of a security and that these deeds will be issued for novelty purposes only, not as an investment. NOW, THEREFORE; American Acres, Inc., establishes the following covenants, restrictions, limitations, and reservations upon each of the parcels and on the ownership, use and occupancy there of:
- The Owner shall not make any improvements to or develop the parcels.
- Owner shall not occupy the parcels.
- Owner grants rights of ingress and egress over the parcels.
- The deeds cannot be sold by the owner for a profit and owner shall not receive any income or derive any other financial benefits whatsoever from the parcels or any or all portions of the Property.
- American Acres, Inc. is the managing agent of the property and will be responsible for all real estate taxes on the property and for complying with any and all local regulations.
- The number of Deeds issued by American Acres Inc. will not exceed the number of square inches in the property.
- This is a "non-recordable" deed although ownership records are being maintained by American Acres, Inc.
- American Acres, Inc. will not develop or improve the land, except possibly with state or local government approval to enhance or beautify the property for public use and enjoyment.
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