Examples of Good and Marketable Title in a sentence
Acquisition Option means our settlement of a Claim by payment of the entire Calculated Loss and acquisition of Good and Marketable Title to the Property as described in Section 10.1(a) (Company Options), subject to any reductions provided for in this Policy.
In relation to each Eligible Dwelling identified by the Provider for the future receipt of the Help to Buy (Scotland) Affordable New Build Scheme Equity Funding, either the Provider or one of its Group Companies (a) has, or (b) will have prior to any drawdown of Equity Funding in respect of that Eligible Dwelling, or (c) can procure pursuant to binding contractual arrangements with the proprietor of the Eligible Dwelling, a Good and Marketable Title to such Eligible Dwelling.
If the Servicer or Beneficiary is unable to provide such access or obtain Good and Marketable Title within 210 days following the submission of the Claim under paragraph (a) (Initial Claim Requirements), we will settle such Claim pursuant to the Anticipated Loss Option, in accordance with Section 10.1(d) (Company Options).
We will be deemed to have waived our right to exercise the Acquisition Option, and will be deemed to have waived our right to receive Good and Marketable Title or Borrower’s Title to the Property.
With respect to Section 184 Guaranteed Loans on fee simple lands, the Servicer transfers to HUD Good and Marketable Title accompanied by satisfactory title evidence.