Section 2.39 Attorney’s Title Insurance Checklist

• Library: Real Estate Fundamentals 2011 Forms

I. The Contract

A. Specify that the title policy will be the “American Land Title Association (ALTA) 6-17-06 Owner’s Form” title insurance policy (or some other form)
B. Specify the name of the title insurance company or state who is to choose the title insurance company
C. State who is to be responsible for payment of the title insurance premium
D. Specify permissible exceptions to title, to the extent possible

II. Ordering the Title Insurance Commitment

A. Order as soon as possible after signing of the contract.
B. Be prepared to tell the title company the following:

1. Description of real estate
2. Name of seller
3. Name of purchaser and sale price
4. Name of mortgage lender and amount of mortgage
5. Date commitment needed by
6. Anticipated date of closing and whether title company will be settlement agent
7. Number of copies of commitment needed and names and addresses of parties to whom they should be sent
8. Party to whom statement for title services should be rendered

C. Furnish the title company prior title evidence, if available.

III. Preparation for Closing

A. Representing the Seller

1. Review title insurance commitment:

a. Determine that the land is properly described.
(1) Did seller acquire any strips or small tracts that are not described in Schedule A after acquiring the principal tract?
(2) Does seller intend to retain any portion of the land that is not excepted from the legal description in

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