The opinion of title issued by attorney is mainly used by title companies to issue a document, known as the title report. This legal document can be used in a number of ways; however, the most common uses come while buying a new property, to research the ownership and verifying the lien status. For instance, a title report issued for buying a house will vary drastically when it comes to the information offered. Usually it should the current ownership state, how the title is held and any kind of liens that there are currently against the property. The legal address and mailing address might also be listed if they differ from the original one. Similarly, the legal description, parcel numbers of latitude and longitude will also. If there are any encroachments and easements that will also be mentioned in the document, along with any kind of limitation the title policy might hold.
Now that you have a basic idea of what the attorney’s opinion of title entails, it is important that you understand its definition to get a better idea. Here mentioned are some of the more commonly used definitions of attorney’s opinion of title.
i. The attorney’s opinion of title is essentially a legal opinion which further attests to the validity of the title deed to a parcel of property. This opinion is most commonly issued in tandem with an insuring title agency.
ii. The attorney’s opinion of title mainly refers to the legal opinion that further assures the information mentioned on property documents, also stating if the title is valid of the said property. These legal opinions can sometimes be issued along with an insuring title agency.
There are a number of reasons why you must get the attorney’s opinion of title. It helps make the property buying process a lot smoother and easier for the buyer. Here are some of the most notable uses of attorney’s opinion of title.
1. Better understanding of the properties history:
With the attorney’s opinion of title you can rest assured that you will know everything there is to about the property you are about to purchase. Starting from the ownership history, to other important information about the property, like liens or taxes are all mentioned in the document.
2. Get the expert’s advice:
The legal proficiency is important in any property buying. With an attorney’s opinion of title you can ensure that the process is abides by all the laws. The attorney will provide you with the all the necessary information, required to make sure the process is smooth and convenient. In addition to that, the information provided in such documents can be a great help in your purchase.
