Title Issues
Easement Issues In Real Estate
Easement issues crop up with alarming frequency, particularly in rural areas, and it’s no wonder! Virtually every property has some type of easement on it, most commonly for utilities. And some easement agreements date back decades. More often than not, the easements were put in place by previous property owners, not even the current owners.…
Read MoreLegal 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…
Read MoreExclusions 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…
Read MoreSpecial 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…
Read MoreWhat is a Title Search In Real Estate
What is a Title Search? What is a title search? A title search is a report of the public documents record, typically performed by a title company, regarding a specific parcel of land. The search involves documents located in the Recorder’s Office of the county the property is located in. These documents may include: Mortgages…
Read MoreTitle Insurance Basics For Real Estate
Introduction Title insurance insures risks associated with the transfer of real property. Imagine buying a home only to learn that somehow you don’t own the property. This occurrence can happen and, although unlikely, does happen . . . sometimes. Title insurance covers specific risks to title, ultimately making market-clearing values more predictable and stable. The standard title…
Read MoreChain Of Title In Real Estate
“Chain of title” is the ownership history of a parcel of real property, from the first owner to the present owner. Black’s Law Dictionary, 10th Ed. p. 278 (2014). The chain of title for a parcel of land should go without interruption from the present day back to the original United States government land patent.[1]…
Read More