Evidence of Title Clause Samples

Evidence of Title. Seller shall deliver to Buyer a commitment to issue 31 an Owner’s Policy of Title Insurance issued by ▇▇▇▇▇▇▇▇ County Title, LLC, ▇▇▇ ▇. ▇▇▇▇ ▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇, ▇▇▇▇▇▇▇▇, in the amount of purchase price, naming Buyer as the insured, 33 written by a title insurance company licensed in Missouri under the provisions of Chapter 34 381 of the Revised Statutes of the State of Missouri, which policy shall insure the owner’s 35 title to be in the condition called for by this contract and which commitment shall provide 36 that said policy shall be issued forthwith after the Seller’s deed shall be placed of record. 37 After delivery of said title insurance commitment, Buyer shall have 10 days to examine 38 said title insurance commitment and notify Seller in writing of any objections thereto. If 39 there be any objections, Seller shall, within a reasonable time, furnish to Buyer a new or 40 amended title insurance commitment satisfying any such objections, but if such 41 commitment shall not be furnished within 15 days after said notice, then Buyer, at Buyer’s 42 election, may void this contract by written notice to the Seller prior to the furnishings of 43 such commitment, in which case all down-payment paid by the Buyer shall be returned 44 to the Buyer by the Seller. If the title defects are not corrected, or if the failure to furnish 45 said title commitment is due to the fact that the title defects cannot be corrected to the 46 satisfaction of either the Buyer or the Buyer’s examining attorney, then this contract shall 47 be void and the down payment shall be returned to Buyer, unless Buyer gives notice to 48 Seller in writing of Buyer’s election to waive such defects.

Evidence of Title. Evidence that title to a REO is held by the Trustee shall be submitted by the Servicer to the Master Servicer and, if applicable, to the Primary Mortgage Insurer and/or the Pool Insurer, within ten Business Days after marketable title to such REO has been acquired.

Evidence of Title. Not less than fourteen (14) days prior to closing, Seller will furnish Buyer with written commitment from a title insurance company duly authorized to do business in Illinois, showing title to said premises subject only to matters to which this sale is subject by the terms hereof and to the customary exceptions contained in owners policies issued by such company. If written commitment discloses defects in title other than matters to which this sale is subject by the terms hereof and the customary exceptions in such policies, then Seller shall have until date for delivery of deed to correct such defects. Owners title policy, in amount of the purchase price for said premises, will be paid for by the Seller and issued to Buyer after delivery of deed.

Evidence of Title. Not less than ten (10) days prior to closing, Lessee shall obtain a commitment for an TLTA owner's policy of title insurance dated within thirty (30) days of the closing date, issued by a nationally recognized title insurance company selected by Lessor (the "Title Company") in the amount of the Purchase Price determined pursuant to subparagraph (C)(i) above, naming Lessee as the proposed insured, and covering the fee simple title to the Leased Premises, and showing Lessor vested with good title to the Leased Premises subject only to the matters affecting title which were of record at the time Lessor came into title to the Leased Premises and those matters which Lessee created, suffered or permitted to accrue during the term hereof. Such title commitment shall be conclusive evidence of good title.

Evidence of Title. Within a reasonable time after the Effective Date, but prior to the Closing Date (the “Commitment Delivery Date”), Seller shall, at Seller’s sole expense, deliver to Buyer a title insurance commitment pursuant to which the Title Company shall agree to issue to Buyer, at Seller’s sole expense, an owner’s policy of title insurance in the amount of the Purchase Price, insuring marketable fee simple title to the Property in Buyer upon recording of the Deed; provided, however, title to the Property shall be subject to the conditions in this Contract, to customary covenants, declarations, restrictions, zoning laws, easements, party wall agreements, special assessments, and community contracts or record as of the effective date of the title commitment (the “Permitted Exceptions”), as well as any liens, encumbrances or other matters affecting title to the Property created by ▇▇▇▇▇ or arising by virtue of Buyer’s activities or ownership. Unless there is a defect in title to the Property that is not corrected prior to the Closing Date, Buyer may not object to untimely delivery of the title commitment. The policy shall also insure Buyer as of the date of recording of the Deed, against any lien, or right to a lien, for services, labor or material imposed by law and not shown by the public records. ▇▇▇▇▇▇ agrees to comply with the requirements of the Title Company for issuance of this coverage. Any mechanic’s lien or notice of intent filed during construction and prior to closing will not be deemed a defect in title unless the title insurance company will not insure against loss therefrom. The following notice is provided for property located in Missouri only: If the Property has not been occupied by Seller and has had recent construction work performed, the Seller may be required to post and record a “notice of intended sale,” as stated in Chapter 429 Missouri Revised Statutes, in order for Buyer to obtain Mechanic’s Lien Coverage. All parties are advised to consult with the title company regarding these requirements. Buyer shall have a reasonable time after receipt of the title commitment (the “Objection Period”) to notify Seller in writing of any valid objections to title to the Property (the “Defects”). Seller shall then make a good faith effort to remedy the Defects. If Seller does not remedy the Defects before the Closing Date, Buyer may elect to (a) waive the Defects, (b) extend the Closing Date a reasonable time to allow Seller to remedy the Defects or (c) canc...

Evidence of Title. Not less than ten (10) days prior to closing, Selling Lessor shall obtain a commitment for an ALTA owner's policy of title insurance dated within thirty (30) days of the closing date, issued by a nationally recognized title insurance company selected by Selling Lessor (the "Title Company") in the amount of the Purchase Price determined pursuant to subparagraph (C)(i) above, naming Lessee as the proposed insured, and covering the fee simple title to the Leased Premises, and showing Selling Lessor vested with good title to portion of the Leased Premises being sold, subject only to the matters affecting title which were of record at the time Selling Lessor came into title to the Leased Premises and those matters which Lessee created, suffered or permitted to accrue during the term hereof. Such title commitment shall be conclusive evidence of good title. If Lessee shall make objection to the marketability of title, Selling Lessor shall have no obligation to make title marketable, but may withdraw Lessor's notice of intent to market the Premises.

Evidence of Title. Within a reasonable period after execution of this Contract and before closing, Seller shall provide Buyer an updated commitment to issue an ALTA title insurance policy in the amount of the purchase price, by Chicago Title (“Title Company”). Permissible exceptions to title shall be all matters and exceptions set forth on that certain commitment for title insurance with an effective date of TBD and issued by the Title Company. If Buyer or ▇▇▇▇▇’s lender requires title evidence of a type other than that which Seller chose to provide, then the additional cost, if any, occasioned by the title evidence required shall be at Buyer’s expense and no additional cost shall be chargeable to Seller.

Evidence of Title. ▇▇▇▇▇▇ agrees to furnish buyer, at Seller’s expense, unless the parties agree in writing to a different 263 arrangement, a current commitment and an owner’s title insurance policy in an amount equal to the Purchase Price as specified in 264 the Sale contract, or if this box is checked, An Abstract of Title certified to a current date.

Evidence of Title. In the event that Buyer does not order and receive a commitment for title insurance, Seller shall, at its expense, within ten (10) days after written request from Buyer, furnish to Buyer a copy of the documents by which the State obtained or otherwise holds title or a letter from the State Land Office describing the documents by which the State obtained and otherwise holds title. Seller will cooperate with the Buyer or its title company in clarifying or resolving any perceived deficiencies or clouds in the title, but shall not be required to incur any expense beyond commitment of the time of the State Land Office. If such issues cannot be resolved to Buyer’s satisfaction, Buyer may terminate this Agreement, and the ▇▇▇▇▇▇▇ Money, if any, shall be returned.