Louisiana Acquisition Title Opinion
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How to fill out Acquisition Title Opinion?
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FAQ
Merchantable title refers to a legal right to control and dispose of property, including ownership, possession, and custody. It is a title that a reasonable buyer would accept because it appears to lack any defect and to cover the entire property that the seller has purported to sell.
Sellers who sell land to buyers are contractually obligated to deliver marketable title to the buyer at the time of closing the deal.
Generally, an abstract of title provides information referencing relevant real property deeds, mortgages, probate records, court litigations, and current tax information. Additionally, it may include other possibly related legal documents that could affect the real property based on your placed order.
Marketable title is a concept in property law referring to a title free from any claims or disputes about the ownership, or from any threat of litigation. When a seller is selling property to a buyer, an implied promise is that the seller will deliver marketable title to the buyer.
Merchantable Title The seller pays all of the costs for the clear title and if they cannot perform the buyer has the right to demand the return of their deposit and to recover from the seller any actual costs incurred during the process (inspections, appraisals, etc.) as well as legal fees.
