Legal Due Diligence For Real Estate In Washington

The primary source of legal risk affecting the value of real property are documents found in the public record, primarily those listed as exceptions documents in a preliminary title report. In addition, private equitable servitudes, conditions, restrictions, or rules and regulations may govern the parcel’s use affecting the enjoyment and value of the land. The…

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Legal Due Diligence For Real Estate in Montana

Preliminary title reports are the source of basic legal due diligence information. The list of exceptions documents included in the preliminary title report references exceptions to title insurance coverage and, as such, may represent circumstances that could impair the parcel’s value. Typical documents found listed as exceptions documents are deeds, easements, surveys, plat maps, and…

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What is “Notice?” In Real Estate

What is meant by the word “Notice?” In most legal jurisdictions in the United States, there are three types: Actual, Inquiry, and Constructive. Actual. Actual notice is based in sensory experience. If you saw, smelled, heard, felt, or tasted it, you are said to have had actual notice. For example, if you see a road,…

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Exclusions And Exceptions to Title Insurance For Real Estate

Why are Exclusions and Exceptions to Title Insurance so important? The standard title insurance form used in whole or part by industry participants is the 2006 Owner’s Policy of Title Insurance produced by the American Land Title Association. The standard ALTA insurance form starts with the following language: “American Land Title Association Owner’s Policy Adopted 6-17-06 COVERED…

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Special Exceptions To Title Insurance For Real Estate

Title insurance insures against risks incurred to title when you buy land. However, when you read through a title insurance policy, you’ll find that certain risks are not covered. These uncovered risks to title are colloquially called “special exceptions.” Background The American Land Title Association (ALTA) is the national trade association for the title insurance industry. Founded in…

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