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Merchantable title and marketable title are synonymous terms. In the absence of an agreement to the contrary, there is an implied undertaking in the contract that the vendor (person selling the property) has a marketable title. The contract typically provides that on failure of a vendor to deliver good and marketable title, the vendee (buyer ...
The first title insurance company, the Law Property Assurance and Trust Society, was formed in Pennsylvania in 1853. [1] Typically the real property interests insured are fee simple ownership or a mortgage. However, title insurance can be purchased to insure any interest in real property, including an easement, lease, or life estate.
Title issues are not common, but if the title search uncovers one — or if it doesn’t, but one comes up later — there can be considerable legal costs. This is where title insurance comes in.
If the title says the first person's name followed by the word "and" before listing the second person's name, then both parties must sign the vehicle title. 2. Create a Bill of Sale
In July 2017 Gracy Title, a Stewart Company was officially renamed to Stewart Title of Austin. The company issues title insurance policies and provides title services from 12 locations throughout Central Texas. Outside of the Austin market, prior to the Stewart merger with Gracy, Stewart's history dates back to 1893 originating in Galveston, Texas.
As he explained, many uninsurable homes will have had issues in the past – from leaking roofs to unstable pipes causing flooding – and a loss report will highlight any claims prior owners have ...
We are an insurance safety net and partner in the insolvency system, fairly serving the people of Texas in an efficient and cost-effective way. TPCIGA, Mission statement According to the Texas State Auditor's Office, the "Association's purpose is to pay, fairly and in a timely manner, valid insurance claims involving insolvent property and ...
An accident report must be filed with a police officer for any accident you are involved in with injuries or damages exceeding $1,000, or in which any driver is uninsured. It is typically best ...