query: right of first refusal versus quit claim deed

The right of first refusal is typically reserved by a seller who wishes to exercise some control over future ownership of the property. In order for clear title to pass the property must be offered to the party who retained the right of first refusal before conveying title to someone else.We usually obtain a letter from the party waiving the right of first refusal and record the letter as an

query: right of first refusal versus quit claim deed

The right of first refusal is typically reserved by a seller who wishes to exercise some control over future ownership of the property. In order for clear title to pass the property must be offered to the party who retained the right of first refusal before conveying title to someone else.We usually obtain a letter from the party waiving the right of first refusal and record the letter as an

query: how long is a title commitment good for

I'm not sure if it's the same all over, but in PA a title insurance commitment is good for six months.

query: how long is a title commitment good for

I'm not sure if it's the same all over, but in PA a title insurance commitment is good for six months.

Did you know that income tax liens attach to "after acquired" property?

Yes, that's right. So unless you can pay cash for a piece of real estate, expect to have a problem getting a mortgage.I am examining title today for the purchase of a property that went through foreclosure. I saw FTL on the cover notes and at first glance assumed it was a Federal Tax Lien against the former owner. Too bad, it's not. It's filed against the buyer and there is also a PA state

Did you know that income tax liens attach to "after acquired" property?

Yes, that's right. So unless you can pay cash for a piece of real estate, expect to have a problem getting a mortgage.I am examining title today for the purchase of a property that went through foreclosure. I saw FTL on the cover notes and at first glance assumed it was a Federal Tax Lien against the former owner. Too bad, it's not. It's filed against the buyer and there is also a PA state

query: the difference between a title insurance commitment and a title abstract

The title abstract is a report containing raw data and abstractor notes based upon a search of the public records. This report is part of a thorough title examination. The title insurer will also review data from other sources and then issue a title insurance commitment.The title insurance commitment is an offer to insure the title subject to certain conditions and exceptions.