Page 18 - Kim Sargent GuideSellerCustom.pdf

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

17