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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 ...
Crazing is a spider web pattern of cracks penetrating the glaze. It is caused by tensile stresses greater than the glaze is able to withstand. [1] [2] Common reasons for such stresses are: a mismatch between the thermal expansions of glaze and body; from moisture expansion of the body; and in the case of glazed tiles fixed to a wall, movement of the wall or of the bonding material used to fix ...
A real estate attorney, broker, escrow officer (in the western states), or loan officer can provide detailed information as to the price of title search and insurance before the real estate contract is signed. Title insurance coverage lasts as long as the insured retains an interest in the land insured and typically no additional premium is ...
A cloud on title may reduce the value and marketability of property because any prospective buyer aware of the cloud will know that they are buying the risk the grantor may not be able to convey good title. Often, the discovery of a cloud on title will provide the grantee a reason to back out of a contract for the sale of real property.
An 18th-century fire insurance contract. Property insurance can be traced to the Great Fire of London, which in 1666 devoured more than 13,000 houses.The devastating effects of the fire converted the development of insurance "from a matter of convenience into one of urgency, a change of opinion reflected in Sir Christopher Wren's inclusion of a site for 'the Insurance Office' in his new plan ...
Probable maximum loss (PML) is a term used in the insurance industry as well as commercial real estate.Although the definition is not consistent across the insurance industry. [1]
Property condition assessments (PCAs) (also known as the property condition report, or PCR) are due diligence projects associated with commercial real estate.Commercial property and building inspections are important for clients seeking to know the condition of a property or real estate they may be purchasing, leasing, financing or simply maintaining.
An action to quiet title is a lawsuit brought in a court having jurisdiction over property disputes, in order to establish a party's title to real property, or personal property having a title, of against anyone and everyone, and thus "quiet" any challenges or claims to the title.