Title Review Items Sample Clauses
The "Title Review Items" clause outlines specific matters or exceptions identified during a review of a property's title that may affect ownership or use. Typically, this clause lists encumbrances, liens, easements, or other recorded interests discovered in a title search, and may require the seller to address or resolve certain issues before closing. Its core function is to ensure that both parties are aware of any title defects or concerns, thereby allocating risk and clarifying what title conditions are acceptable or must be remedied prior to the transaction's completion.
Title Review Items. Purchaser shall have the right to order an ALTA form commitment for title insurance (the “Title Commitment”), issued by the Title Company which shall set forth the state of title to the Real Property and the Improvements.
Title Review Items. Title Company shall deliver to Purchaser, at Seller’s cost, an commitment to issue a standard Texas form T-1 Owner Policy of Title Insurance or a reissuance of the existing title policy of the Seller obtained in 2014 (the “Title Commitment”), issued by the Title Company which shall set forth the state of title to the Real Property and the Improvements. The Title Commitment shall be delivered to Purchaser with a complete legible set of all exceptions described therein. The date of delivery of the Title Commitment and exception documents shall herein be the “Title Delivery Date.” Purchaser shall, on or before twenty (20) days after the Title Delivery Date (the “Title Review Date”), deliver to Seller in writing any objections to matters shown in the Title Commitment and/or on the Survey, provided that the final “as Built” Survey has then been delivered to Purchaser. Purchaser’s failure to timely object to any exception set forth in the Title Commitment or any disclosure made on the Survey, if then delivered to Purchaser, shall be deemed to constitute Purchaser’s approval of all such exceptions and disclosures and all such exceptions and disclosures shall then become Permitted Exceptions (as defined herein), for purposes of the Title Commitment and the approval of the Survey, respectively. Notwithstanding the foregoing, if the final “As Built” Survey is not delivered to Purchaser at least ten (10) days prior to the Title Review Date, Purchaser shall have ten (10) days after the actual delivery of said final Survey to review same and deliver to Seller any objections thereto and if Purchaser fails to deliver any objection to the Survey within said ten (10) day period, Purchaser shall be deemed to have accepted the Survey. If Purchaser timely objects to any exceptions set forth in the Title Commitment or disclosures made on the Survey in accordance with the terms and conditions of this Section 3.02, then Seller shall have the right, but not the obligation, to attempt to cure, or cause to be cured, any such items which are the subject of such timely objections within ten (10) business days of the date Seller receives Purchaser’s objections to such items. Notwithstanding any provision to the contrary, Purchaser shall not be required to object to any monetary liens or monetary encumbrances, or real property taxes and assessments existing against the Property and due and payable as of the Closing Date (as defined herein) and the parties agree that such items (collect...
Title Review Items. Purchaser shall have the right, at Seller’s sole cost and expense, to order a Texas T-1 form commitment for title insurance (the “Title Commitment”), issued by the Title Company which shall set forth the state of title to the Real Property and the Improvements.
Title Review Items. Within ten (10) days of the Effective Date, Seller, at Seller’s sole cost and expense, shall deliver to Purchaser an ALTA form commitment for leasehold owner’s title insurance (the “Title Commitment”), issued by Escrow Agent, which shall set forth the state of title to the Real Property and the Improvements.
Title Review Items. Prior to execution of this Contract, Purchaser approved the preliminary title report of the Property (the “Title Report”), issued by the Fidelity National Title Company (the “Title Company”) attached hereto as Exhibit G, together with legible copies of all items, matters, and documents referred to in the Title Report.
Title Review Items. Seller shall deliver to Purchaser, within five (5) days following the Effective Date, a Texas form commitment for title insurance (the "Title Commitment"), issued by the Title Company which shall set forth the state of title to the Real Property and the Improvements and shall list all exceptions, including all liens, easements, claims, encumbrances, rights-of-way, covenants, encroachments, reservations, restrictions, and other conditions or matters affecting the Real Property which would appear in an owner's policy of title insurance if one were issued, together with legible copies of all items, matters, and documents referred to in the Title Commitment. The Title Commitment must contain the expressed commitment of the Title Company to issue the Owner Policy to Purchaser in the amount of the Purchase Price, insuring the title to the Real Property as is specified in the Title Commitment. All items set forth or disclosed in the Title Commitment and Survey not objected to by Purchaser prior to the end of the Review Period or which Seller does not agree to remove, in Seller's sole discretion, shall be referred to herein as "Permitted Exceptions". Seller shall not have any obligation to remove any items reflected by the Title Commitment or Survey except as provided in Section 4.04 hereof and those matters which Seller agrees in writing to cure in response to a letter from Purchaser delivered prior to the end of the Review Period specifying matters to be cured by Seller.