Articles
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 1907, the Association has developed a set of forms, the ALTA title insurance forms, used voluntarily by title insurers across the…
Read MoreWhat 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 Deeds Rights of way Covenants Judgments affecting the title to, or the use of, the property The results of the…
Read MoreIntroduction 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 insurance form used in whole or part by industry participants is the 2006 Owner’s Policy of Title Insurance produced by the American…
Read More“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] Why is chain of title important? The reason is that for a current owner of real property to have good,…
Read MoreIntroduction The purpose of this brief article is to clarify when an attorney-client relationship exists, and what duties an attorney has to a client. This article will conclude with a discussion of when confidential communications with an attorney are privileged—and when communications may not be. This article will cite the Idaho rules of professional conduct, evidence, and civil procedure, understanding that these rules are similar to other states. Although providing information, this article does not constitute legal advice. If you have…
Read MoreLanguage used to describe legal services may be imprecise. Even attorneys sometimes use the phrases “legal opinion” and “legal advice” interchangeably, but they actually have different meanings. Black’s Law Dictionary defines a “legal opinion” as “[a] written document in which an attorney provides his or her understanding of the law as applied to assumed facts.”[1] This definition notes that attorneys often give legal opinions on matters such as title to real property and corporate transactions, among others.…
Read More- « Previous
- 1
- 2
- 3