TITLE COMMITMENT; SURVEY; SEARCHES Sample Clauses
The "Title Commitment; Survey; Searches" clause outlines the requirements for obtaining and reviewing a title commitment, property survey, and relevant searches before completing a real estate transaction. Typically, this clause specifies which party is responsible for ordering and paying for the title insurance commitment, obtaining a current survey of the property, and conducting searches for liens, encumbrances, or other title issues. By establishing these obligations, the clause ensures that the buyer receives clear title to the property and is aware of any potential legal or physical issues, thereby reducing the risk of future disputes or unexpected claims.
TITLE COMMITMENT; SURVEY; SEARCHES. Buyer’s obligation to purchase the Property and to consummate the transactions contemplated hereby shall also be subject to and conditioned upon Buyer’s having approved the condition of title to the Property and a survey of the Real Property in the manner provided for in this Section 5.