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Attorneys write title opinions to secure title to a property or issue a title. The document details the attorney’s research and opinion on the validity of the title, including any liens or claims found. The format includes a disclaimer, property information, liens, claims, and judgments. The attorney also records the closing of the title and expresses their opinion on the title’s validity.
Securities companies and title insurance companies rely on licensed attorneys to write what is called a title opinion, in order to issue a title or secure title to a property. This document expresses the opinion of the signatory attorney on the validity of the title, based on research, investigation and examination of all pertinent documentation. Also referred to as a statement of opinion or title excerpt, the document will detail any searches the attorney has conducted, name any documentation he has reviewed, and record any claims or liens found against the title. Upon completion of the title opinion, a title insurance company can insure the document for the seller or title holder. While state law often specifies the exact information required on the document, most will follow a similar format.
The title opinion format usually begins with a disclaimer informing the reader of the document that the intent or purpose is to make a decision with respect to the insurance of title or the issuance of title, but does not constitute in in any way any kind of obligation on the part of the lawyer or company. Next, the attorney usually specifies the time and date the document was completed, as well as the time and date that it reviewed all relevant documents. In the next line, he will record the name and location of the property, the type of deed held on the property, and where the deed is registered.
In the next two sections, the attorney will record all liens held on the property and all information associated with identifying the lien holder as having a right to the property. In addition, the attorney will also record the lien assignees and any information associated with identifying the assignees. If there are other claims legally connected to the property, he will register them later. Pending all of the above privileges have been legally satisfied, you will also record this, listing each and the date satisfied.
Since judgments against a property can affect title as well, finding one could likely prevent the attorney from issuing the title opinion. If there are no sentences, however, he will have to declare the fact. By completing the document, the attorney will state when the title was closed and by whom. Additionally, the attorney will specify who oversaw the closing of the title, the transfer of the requested funds, and whether the signing party was aware of either process. Finally, the attorney will express his opinion regarding the title and sign the document to certify the opinion of title.
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