Title Status Sample Clauses
The Title Status clause defines the condition and legal standing of the ownership (title) of a property or asset being transferred or sold. It typically requires the seller to confirm that the title is clear of liens, encumbrances, or other claims, and may obligate them to provide documentation such as a title report or insurance. This clause ensures that the buyer receives a property with undisputed ownership, thereby reducing the risk of future legal disputes over title defects.
Title Status. 4.1 Within ten (10) days after the Effective Date (as hereinafter defined in Paragraph 14.11), Seller shall deliver to Purchaser a Commitment for Title Insurance, Texas standard form (hereinafter referred to as the "Commitment"), together with copies of all instruments and documents referred to therein as exceptions to title covering the Property, in the amount of the Purchase Price, in favor of Purchaser, pursuant to which the Title Company agrees, subject to the provisions thereof, to issue at Closing an Owner Policy of Title Insurance (hereinafter referred to as the "Owner Policy") to Purchaser.
4.2 Purchaser shall have fifteen (15) days after the latest to be received of the Commitment, legible copies of all exception matters referenced in the Commitment and the survey (as hereinafter defined in Paragraph 5.1), to provide to Seller written objections to the status of title to the Property. If such written objections have not been received by Seller prior to the end of the said fifteen (15) day period, Purchaser shall be deemed to have conclusively accepted and approved the status of title to the Property, as shown by the Commitment. If Purchaser does timely deliver to Seller such written objections, Seller shall have ten (10) days from the receipt of the objections to attempt to cure such objections. If Seller is unable or unwilling to cure such objections within such ten (10) day period, Purchaser may either (i) waive such objections in writing and purchase the Property notwithstanding such objections, (ii) extend Seller additional time, not later than the date of Closing, to cure such objections or (iii) terminate this Contract by written notice to Seller, in which event the Earnest Money Deposit ▇▇▇▇▇ be returned to Purchaser on demand, and neither Seller nor Purchaser shall have any further obligations hereunder.
4.3 Seller shall deliver to Purchaser, at Closing, a Special Warranty Deed (hereinafter referred to as the "Deed") conveying fee simple title to the Property to Purchaser, subject to the exceptions to title contained in the Commitment approved, or waived, by Purchaser pursuant to Paragraph 4.2 hereof.
Title Status. The Landlord represents that it owns the Premises in fee-simple, subject only to encumbrances, assessments, and restrictions which will not interfere with the intended use of the Premises, and that it has the full right, power, and authority to enter into this Lease for the term herein granted.
Title Status. The system shall provide the ability to check the status of the title when processing a title, vehicle or registration transaction and suspend the transaction based on business rules. 5.4.3.17 Title Owners: The system shall allow an unlimited number of owners on a title. 5.4.3.18 Seller Information: The system shall provide the ability to capture seller information (dealer / private seller) as well as date of purchase, purchase price, trade-in amount, etc. 5.4.3.19 Sales Tax Exempt: The system shall be able to differentiate vehicles by sales tax exempt status and use that information when assessing charges. Solution Requirements Section # Solution Requirements 5.4.3.20 Sales Tax Basis: The system must be able to determine sales tax based on valuation. Valuation is determined based on numerous things including, but not limited to method of sale (dealer or not), trade in, year, and type of vehicle. 5.4.4 Validate Customer / Documentation 5.4.4.1 Compliance Checks: The system shall be able to provide customer compliance checks for title transactions as defined by business rules. 5.4.5 Validate Vehicle Compliance
Title Status. The Parties agree for this Agreement to operate as a “Contract” as defined by North Carolina law. This Agreement shall not be construed to result in the transfer of title to any part of the dark fiber to Purchasing Party or in the creation of a “security interest” within the meaning of North Carolina law. Purchasing Party shall keep the City system, including the dark fiber, free from all liens, including mechanics liens, and encumbrances.
Title Status. If Buyer obtains a title insurance commitment for the Property (see Section 13 below), Buyer review and approval of a current title insurance commitment for the Property showing status of title meeting Buyer’s reasonable approval.
Title Status. The County represents that it owns the Premises in fee-simple, subject only to encumbrances, assessments, and restrictions which will not interfere with the intended use of the Premises, and that it has the full right, power, and authority to enter into this Lease for the Term herein granted.
Title Status. The Owner represents that it owns the Premises in fee-simple, subject only to encumbrances, assessments, and restrictions which will not interfere with the intended use of the Premises by the County, and that it has the full right, power, and authority to enter into this Agreement for the term herein granted.
Title Status. Purchaser shall have the right to review the Title ------------ Commitment, the Title Documents, and the Survey. In the event that any exceptions to title appear in the Title Commitment or any matters appear on the Survey that Purchaser, acting in good faith, determines to be unacceptable to Purchaser, Purchaser shall, prior to the expiration of the Inspection Period, notify Seller in writing of such objections. Upon the expiration of the Inspection Period, Purchaser shall be deemed to have accepted all exceptions to title referenced in the Title Commitment and all matters reflected on the Survey, except for matters which are the subject of a notification made under the preceding sentence, and such accepted exceptions shall deem to be "Permitted Exceptions" for purposes of this Contract. In addition, "Permitted Exceptions" shall include (a) exceptions shown as standard printed exceptions and exclusions in the Title Policy (other than that the rights of parties in possession shall be deleted and the standard exception for taxes shall be limited to the year in which the Closing occurs, and subsequent years, and subsequent assessments for prior years due to change in land usage or ownership) and (b) any lien created by Purchaser at Closing in connection with Purchaser's acquisition of the Project. The agreed exceptions to title specified in the immediately preceding sentence, together with any title exceptions to which the Purchaser does not object in accordance with Section 3.4, shall be referred to as the "Permitted Exceptions" in this Contract. The Permitted Exceptions shall be described in Exhibit "B" to the Special Warranty Deed referred to in Section 4.2
Title Status. Within ten (10) days after the Effective Date (as hereinafter defined in Paragraph 14.11), Seller shall deliver to Purchaser a Commitment for Title Insurance, Texas standard form (hereinafter referred to as the "Commitment"), together with copies of all instruments and documents referred to therein as exceptions to title covering the Property, in the amount of the Purchase Price, in favor of Purchaser, pursuant to which the Title Company agrees, subject to the provisions thereof, to issue at Closing an Owner Policy of Title Insurance (hereinafter referred to as the "Owner Policy") to Purchaser.
Title Status. Seller warrants to Buyer that, to the actual knowledge of Seller, the Seller owns the Property free and clear of any lien, security interest, encumbrance, or claim of any kind, other than any security interests created pursuant to this Agreement.