Voluntary Title Exceptions Sample Clauses
The Voluntary Title Exceptions clause defines which title defects or encumbrances a buyer is willing to accept when purchasing real property. In practice, this clause lists specific exceptions—such as minor easements, utility rights-of-way, or existing covenants—that will not be grounds for objection by the buyer. Its core function is to clarify and limit the seller’s responsibility for clearing certain title issues, thereby streamlining the closing process and reducing disputes over minor or customary title matters.
Voluntary Title Exceptions. If, from time to time prior to the Closing, the Buyer shall become aware of any Voluntary Title Exceptions, then the Buyer shall promptly notify the Seller thereof, which notice shall describe in reasonable detail the Voluntary Title Exceptions(s). The Seller shall discharge all Voluntary Title Exceptions on or prior to Closing. The Seller shall be entitled to one or more adjournments of the Closing Date not to exceed ninety (90) days in the aggregate (inclusive of any adjournments made by the Seller pursuant to Section 8.5 hereof) to discharge
Voluntary Title Exceptions. (a) If, from time to time prior to the Closing, Purchaser shall receive written notification (which for purposes of this Article V shall include any information in any title report and in any title continuation provided to Purchaser) of any Voluntary Title Exceptions, then Purchaser shall promptly notify Seller thereof, which notice shall describe in reasonable detail the Voluntary Title Exceptions(s). Seller shall discharge, in the manner set forth in Section 5.5, all Voluntary Title Exceptions regardless of cost on or prior to Closing. Seller shall be entitled to one or more adjournments of the Scheduled Closing Date of such duration as shall be reasonably necessary to discharge the same, not to exceed thirty (30) days in the aggregate (inclusive of any adjournments made by Seller pursuant to Section 5.5 and Section 5.7)
Voluntary Title Exceptions. If, from time to time prior to the Closing, either Contributor or Contributee shall become aware of any Voluntary Title Exceptions, then Contributor or Contributee shall promptly notify the other party thereof, which notice shall describe in reasonable detail the Voluntary Title Exceptions(s) at issue. Contributor shall discharge of record all Voluntary Title Exceptions on or prior to the Closing Date. As used in this subsection (b), the term "discharge of record" shall mean to discharge and eliminate the applicable Voluntary Title Exception(s) from title to the Property. The willingness of the Title Insurer to insure over or issue the Title Policy without exception for such Voluntary Title Exception(s) shall not by itself constitute discharging from title the Voluntary Title Exception(s); it being understood, however, that a discharge that occurs concurrently with the Closing shall be sufficient to discharge of record any such Voluntary Title Exception(s).
Voluntary Title Exceptions. If Seller shall not discharge all Voluntary Title Exceptions on or prior to Closing, then same shall constitute a material default under this Agreement on the part of Seller.