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Reviewing Title Commitments and Schedule B Exceptions

Paragraph 6A of the TREC Residential Condominium and Unimproved Property contract forms calls for a seller to provide a buyer with an owner policy of title insurance and sets out the exceptions to coverage which will be permitted in that policy. Get more details in Reviewing Title Commitments and Schedule B …

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Responding to Offers and Multiple Offers

Active negotiation for the purchase of real estate is usually begun by the tender of an offer to purchase by a prospective buyer. On occasion, especially during a seller's market, a seller may receive multiple offers to purchase. Dealing with multiple offers is now more complex due to changes the …

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What You Should Know about Probate

There are three probate truths you might as well accept. First, probate is ubiquitous — sooner or later almost everyone will be involved in a probate proceeding. Second, it is the most misunderstood legal proceeding in America. Third, everyone is afraid of it and believes it should be avoided at …

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Third Party Financing Approval in TREC Contracts

Last month’s Legal Topics article, “Timing is Everything: Setting Realistic Deadlines in Contracts,” has given rise to some confusion regarding what constitutes loan approval in the TREC contract forms. Third Party Financing Approval in TREC Contracts will shed more light on this topic and revisit the issues of third party loan …

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