Page 18 - Frances Porte AZ Seller Guide

Reviewing Your Title Commitment

The following is provided to help understand the Title REQUIREMENTS:
Commitment, also referred to as a Title Report, which These are items that Driggs Title Agency needs to
you will receive from Driggs Title Agency. Upon receipt, eliminate or “Clear” from the title in order to provide a
you should review the document with attention clear, unencumbered title to the Buyer. Items that must be
to these areas: cleared include:

SCHEDULE A: • Payment of property taxes.
This reflects information provided to the Title Department • Assessments owed of record.
by your Driggs Title Agency Escrow Officer as a result
of the purchase contract and a preliminary search of the •Any encumbrances (or liens) on the property.
public records regarding the Seller. Information provided Often encumbrance items show up because another
by the Buyer and/or Realtor, such as the legal description individual has a name similar to one of the parties in the
of the property, sale price, loan amount, lender, name
and marital status of Buyer and Seller are reflected. Be escrow. Driggs Title Agency may ask for an Identity
certain the information reflected in Schedule A is correct Statement in order to determine if items that show up are
not related to our parties and can be deleted.
as this will be reflected in all of your documents,
including any lender documents.
RECORDER’S REQUIREMENTS:
SCHEDULE B: The County Recorder’s office that specifies the required
“Exceptions” are items which run with the land to include size, margins and print size on documents to be recorded.
If you have any questions, remember an answer from your
Covenants, Conditions and Restrictions (CC&Rs), Driggs Title Agency Escrow Officer is just a phone call
easements, homeowners association (HOA) requirements,
mineral rights as reserved in patents, leasehold interests away.
and other items which will remain of record following
transfer of the property. They are called “Exceptions”
because the Buyer will receive clear title “Except” the
Buyer’s rights to use of the property will be subject to the
CC&Rs, easements for utilities of record and perhaps
others as described in the including any lender
documents.“Exceptions.” A Buyer should carefully read
the Schedule B documents which further define a
Buyer’s use of the property.

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