Opinion of Title
What Is An Opinion Of Title?
An Opinion of Title is a report a Real Estate And Title Attorney writes to attest to a deed’s validity to a piece of property. It shows that the attorney has carefully reviewed the property’s records in the county where it is located after conducting a title search that verifies that the current owner has full rights to transfer the parcel to a buyer. To sum up, this legal report shows all the interested parties any possible defects, easements, or encroachments with the title.
The Opinion of Title outlines a property’s real ownership to make it safe for all parties to proceed with their real estate transactions.
When Do You Need One?
An Opinion of Title is often requested by a county, municipality or utility service provider when development activity is taking place on a property. An Opinion of Title is required when an owner is proffering a Declaration of Restrictions, a Unity of Title or Covenant in Lieu of Unity of Title, creating a new Plat or Subdivision or creating an easement. The Opinion of Title will indicate who the current owner of the property is, who has authority to sign on behalf of the owner if the owner is a legal entity and whether a lender must also join in the execution of the instrument in order to make it legally binding on all interested parties.
Sibila Law has deep knowledge and understanding of various types of legal instruments affecting ownership of real property including Declarations, Covenants, Restrictions, Easements, Joint Access And Reciprocal Easement Agreements. We have negotiated and drafted numerous instruments for various development types including shopping centers, multifamily developments, phased developments, industrial lands and new subdivisions.