I need information about Title Policies for real estate transactions involving cash purchase, Specific example: this title policy belongs to new cash buyer, If the title policy is intended for new buyer of real property paying cash, Line 1 Policy to be issued: this should list the new cash buyers name the oine who is buying policy, correct?
as well, if line 3 reads word for word:
The Estate herein described in this commitment at commitment date is vested in:
Name listed here is the name of the Trustee of the Trust that sold the home to the buyer trying to purchase this title policy
Is this concerning? Shouldn’t line 1 & 3 be vested in the same person i.e. buyer
not buyer and seller?
Welcome to the dope. While we sometimes give advice that sounds like legal advice, your question is too specific for anyone with actual expertise to weigh in without knowing a lot more, and having a formal relationship with you. (not internet strangers) In other words, any advice worth trusting won’t come from lawyers or insurance experts on this site. Any advice you do get shouldn’t be trusted.
The SDMB is a wonderful place, but for your question, I’d suggest you consult a professional in your jurisdiction.