Its that time of the year again when the late summer heat commonly indexes in the triple digits. While the humid subtropical climate here at home is hot, the tropics at this time of year define the word. Like clockwork, Earth does what it does best, equalizes. The sweltering heat between the northern and southern 23rd and 1/2 parallels is disbursed to the northern and southern reaches of the globe, in an incredibly efficient yet incredibly powerful way: HURRICANES! Likely, very few people reading this are unaware of the imminent danger that can abruptly appear off our southern coast. When it does, pandemonium… read more →
Part 4: Title insurance Basics Title insurance is substantially different than other types of insurance coverage, which can often lead to a misunderstanding of the product. Title insurance emphasizes risk prevention rather than risk assumption. This emphasis on risk prevention is labor intensive and expensive, but the coverage offers the best possible opportunity for avoiding claims and losses in real estate transactions. Title insurance can be defined as the insurance of owners of the property or others having an interest therein, against loss by encumbrances, or defective titles, or adverse claims to title, and services in connection therewith. Title insurance is written… read more →
Part 3: What is a “title examination” and why is it important? An attorney may perform the search of the public records and examine the records himself and then issue the title opinion to the client. More often than not, the attorney does not search the public records but employs a professional abstractor, who prepares an abstract of title. An abstract of title is a concise summary of the documents and instruments of record which affect the title to a specific piece of land. An abstract should disclose the full effect of every instrument which constitutes part of the owner’s title… read more →
Part 2: What is the “public records” doctrine, and why does it make a difference as it relates to “title”? As briefly touched on in Title Insurance Primer: Part 1, not only must ownership transfers of immovables be recorded in the public records in order to be effective against third persons, but ALL interests in immovable property must be recorded in the appropriate recording office to have effect against third persons, that is, a person who is not party to or personally bound by an instrument. Thus, the following examples of real rights, in order to have effect against the… read more →
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