Posts Tagged ‘title commitment’
Conditional Title Report Is Not Title Insurance
Question: We were interested in purchasing 40 acres of land in Buckeye. Our broker ordered a condition of title report from the title company. The cost was $350. This condition of title report showed the 40 acres to be free and clear. We also ordered a feasibility study from an engineering firm for the 40…
Read MoreConfused About Title Insurance
Question: We are purchasing for $140,000 cash a one-half acre lot in the New River area. Although we are buying the lot as an investment, we are confused about title insurance. My father is a broker in Utah and he says that, even if we don’t plan to build a home on the lot, we…
Read MoreSeller Must Disclose Unrecorded Judgment
Question: Three years ago we lost a business dispute with our partner in our Casa Grande tire business. Our partner now has a $33,000 judgment against us. We are now in escrow to sell our Casa Grande home, and expect to “net” $50,000 proceeds after payment of this $33,000 judgment. The title commitment, however, does…
Read More