9 Questions
An easement that burdens the property is considered a reciprocal easement.
True
The new 2021 ALTA Policies eliminate the need for the 39-06 Policy Authentication Endorsement.
True
PACA and PASA exceptions often involve lien rights on real estate properties.
False
In a fee-simple situation, the value of a lease remains constant over time.
False
Title insurers are very strict about the amount of insurance provided for lease transactions.
False
One way to value a leasehold estate is by multiplying 10 years by the average annual rent, plus the cost of improvements.
True
The successor to the title of an insured remains the same even when converting the type of entity.
True
Coverage may continue when ownership of an LLC shifts from a single owner to multiple owners.
True
When a trustee transfers title to the beneficiary, coverage will cease according to the text.
False
Learn about the legal requirement of recording leases to make them valid against creditors and subsequent purchasers in the context of real estate law. Discover the option of recording a memorandum of the lease instead of the full lease.
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