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A title opinion is the written opinion of an attorney, based on the attorney's title search into a property, describing the current ownership rights in the property, as well as the actions that must be taken to make the stated ownership rights marketable. [1]
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.
In real estate business and law, a title search or property title search is the process of examining public records and retrieving documents on the history of a piece of real property to determine and confirm property's legal ownership, and find out what claims or liens are on the property. [1]
Title insurance offers protection from problems with a property’s title, including liens, ownership disputes and encroachments. There are two types: a mandatory lender’s policy, whose cost is ...
Title insurance policies typically cost .67% of the property’s sale price, according to the American Land Title Association (ALTA). The total costs of a title insurance premium, settlement ...
In the United Kingdom and other common law countries, a legal opinion also refers to written legal advice on a point of law issued by either a barrister or advocate (often referred to as "counsel's opinion") or occasionally a senior government law officer, such as an attorney general. Where the opinion is given by a foreign lawyer or foreign ...
It drafts legal opinions of the attorney general and provides its own written opinions and other advice in response to requests from the counsel to the president, the various agencies of the executive branch, and other components of the Department of Justice. The office reviews and comments on the constitutionality of pending legislation.
The liability insurer is alerting the insured defendant that insurance may ultimately not cover the resulting liability, or a portion of the liability. [ 2 ] A reservation of rights by a liability insurance company is an expression of the insurer’s agreement to defend its policyholder with the limiting condition [ 3 ] that it does not waive ...