The abstract or title insurance commitment, together with any copies or summaries of such documents furnished pursuant to this section, constitute the title documents (Title Documents)." Explanation: Based on the contents of the title documents, the buyer may request additional documents.
This request must be made by this date and can only pertain to documents on record with the county clerk and recorders office.
Certain circumstances my exist that would prevent an insurance company from covering a property and it is best to learn these issues right away.
Responsible Party : Buyer Date Range : 7-10 Days after acceptance Contract Section: 10a Contract Language: "Buyer shall have the right to have inspections of the physical condition of the Property and Inclusions, at Buyer's expense.
Responsible Party: Buyer/Seller Date Range : 5-7 Days Prior to closing Contract Section: 7c Contract Language: "On or before Survey Deadline (§ 2c) Seller or Buyer shall cause Buyer and the issuer of the Title Commitment or the provider of the opinion of title if an abstract, to receive a current Improvement Survey Plat or Improvement Location Certificate." Explanation: If an improvement location certificate or survey is required the cost will be split as stated in the contract and the seller agrees to provide the results to the buyer by this date.
It includes information about when each event should reasonably be completed, so you can use it as a checklist to make sure you haven't missed an important legal step.Seller shall have the obligation to furnish these documents pursuant to this subsection if requested by Buyer any time on or before Document Request Deadline (§ 2c).This requirement shall pertain only to documents as shown of record in the offices of the clerk and recorder.If the buyer finds problems or concerns with the information in these documents, written notice of the unsatisfactory provision(s) must be presented to Seller on or before this date. Buyer shall have the right to inspect the Title Documents.Written notice by Buyer of any unsatisfactory title condition shown by the Title Documents shall be signed by Buyer and given to Seller on or before this date.Responsible Party: Seller Date Range : Same as Title Deadline Contract Section: 8b Contract Language: "Matters not Shown by the Public Records.Seller shall deliver to Buyer, on or before Off-Record Matters Deadline (§ 2c) true copies of all leases and surveys in Seller's possession pertaining to the Property and shall disclose to Buyer all easements, liens (including, without limitation, governmental improvements approved, but not yet installed) or other title matters (including, without limitation, rights of first refusal, and options) not shown by the public records of which Seller has actual knowledge.These issues must be listed along with a proposed action for the seller to remedy.This is a negotiation and both parties will need to agree on a resolution by the Resolution deadline listed below or the contract will terminate.If the agreements is not legally recorded it must be disclosed by the seller to the buyer by this date.Responsible Party: Buyer Date Range : 2-5 Days after acceptance Contract Section: 10c Contract Language: "This contract is conditioned upon Buyer's satisfaction, in Buyer's subjective discretion, with the availability, terms, conditions and premium for property insurance.