Role: You are a land title attorney reviewing a complex commercial property transaction.

Expectation: Provide a detailed analysis of the title commitment, focusing on any potential issues or risks.

Task: Review the attached title commitment and identify any exceptions, requirements, or encumbrances that may affect the transaction.

Output: Prepare a written report summarizing your findings, including recommendations for addressing any identified issues and steps to ensure a smooth closing.

Sample Result via Microsoft CoPilot

Title Commitment Review Report

Property Details:

• Property Address: 123 Main Street, Cityville, State 98765

• Legal Description: Lot 1, Block A, Smith Commercial Subdivision

Summary: The title commitment for the property at 123 Main Street has been reviewed, and the following issues, exceptions, and requirements have been identified. It is crucial to address these matters to ensure a smooth closing process.

1. Exceptions:

   • Easements: The title commitment lists several easements affecting the property. These include utility easements, drainage easements, and access easements. It is essential to review the specific terms and restrictions associated with each easement to understand their impact on the property’s use and development.

   • Liens and Encumbrances: The commitment reveals existing liens and encumbrances, such as a mortgage lien held by XYZ Bank. We recommend obtaining a payoff statement from the bank to determine the outstanding balance and ensure timely satisfaction of the lien during closing.

   • Restrictive Covenants: The property is subject to restrictive covenants recorded in Book 123, Page 456 of the county records. These covenants may limit certain activities or uses of the property. Legal counsel should review these restrictions thoroughly.

   • Pending Litigation: The commitment indicates a pending lawsuit involving the property. We recommend investigating the nature of the litigation, its potential impact on the property, and any necessary disclosures to the buyer.

2. Requirements:

   • Survey: The commitment requires an updated survey to verify the property boundaries, existing improvements, and compliance with setback requirements. Engage a licensed surveyor promptly to address any discrepancies.

   • Title Insurance: The buyer should obtain an owner’s title insurance policy to protect against any undiscovered title defects. We recommend coordinating with a reputable title insurance company to issue the policy.

3. Recommendations:

   • Due Diligence: Conduct thorough due diligence to verify property records, including tax assessments, zoning compliance, and environmental reports.

   • Clearance of Liens: Work with the seller to clear any outstanding liens or encumbrances before closing.

   • Disclosure: Ensure full disclosure of all known issues to the buyer to avoid post-closing disputes.

   • Coordination: Collaborate with the buyer’s attorney, lender, and other relevant parties to streamline the closing process.

Please consult with legal counsel to address these matters promptly. If you have any specific questions or need further assistance, feel free to reach out.

Disclaimer: This report is for informational purposes only and does not constitute legal advice. Consult with a qualified attorney for personalized guidance related to this transaction. 📜🔍

Role: You are a real estate paralegal assisting with the preparation of closing documents.

Expectation: Draft a clear and concise warranty deed that accurately conveys the property from the seller to the buyer.

Task: Using the information provided in the title commitment and purchase agreement, prepare a warranty deed for the transaction.

Output: Create a draft warranty deed in the proper format, including the legal description, grantor and grantee information, and any necessary exceptions or reservations.

Sample Result via Google Gemini (Free)

Warranty Deed

This Warranty Deed (the "Deed") is made and entered into as of [DATE], by and between:

Grantor: [SELLER NAME(S)], residing at [SELLER ADDRESS] ("Grantor").

Grantee: [BUYER NAME(S)], residing at [BUYER ADDRESS] ("Grantee").

Witnesseth

WHEREAS, Grantor is the sole owner in fee simple of the real property hereinafter described (the "Property"); and

WHEREAS, Grantor desires to convey the Property to Grantee.

Now, Therefore, in consideration of the Ten Dollars ($10.00) and other good and valuable consideration, receipt and sufficiency of which are hereby acknowledged, Grantor does hereby grant, bargain, sell, convey, and confirm unto Grantee, and Grantee's heirs and assigns forever, all of the following-described real property situated in the County of [COUNTY], State of [STATE]:

[Insert Legal Description of Property - This should be obtained from the title commitment]

Together with all the improvements thereon and all rights, privileges, and appurtenances thereto belonging, including, but not limited to, easements, inlets, and outlets appertaining thereto (the "Property").

To Have and to Hold the Property, together with all the Estate, right, title, interest, and claim of Grantor of, in, and to the same, unto Grantee, and Grantee's heirs and assigns forever.

Grantor warrants that Grantor has the full right, power, and authority to convey the Property; that the Property is free and clear of all liens and encumbrances except for the following (if any):

• [List any exceptions or reservations here, obtained from the title commitment, such as easements, covenants, or restrictions]

Grantor hereby covenants to defend the original title to the Property conveyed herein against all lawful claims and demands of all persons whomsoever.

In Witness Whereof, Grantor has executed this Deed as of the date first written above.

Grantor:

[Signature]

[Printed Name]

[Acknowledgment Section - This must be completed according to your state's specific requirements]

This Deed Prepared By:

[Your Name]

Real Estate Paralegal

Please Note: This is a sample warranty deed and may not be suitable for all situations. It is recommended that you consult with an attorney to ensure that the deed is appropriate for your specific transaction.

Role: You are a title insurance underwriter reviewing a proposed easement agreement.

Expectation: Assess the potential impact of the easement on the title policy and provide guidance on necessary exceptions or endorsements.

Task: Analyze the attached easement agreement and determine its effect on the title insurance policy for the property.

Output: Provide a written assessment of the easement agreement, including any recommended exceptions or endorsements to the title policy and potential risks or concerns for the insured parties.

Sample Results via ChatGPT 3.5 (Free)

Assessment of Easement Agreement and its Impact on Title Insurance Policy

Introduction: As a title insurance underwriter, my task is to thoroughly review the proposed easement agreement and assess its implications on the title insurance policy for the property in question. An easement grants a non-owner the right to use a property for a specific purpose, which can affect the property's title and the rights of the insured parties. In this assessment, I will analyze the terms of the easement agreement, identify any potential risks or concerns, and recommend necessary exceptions or endorsements to the title policy.

Key Terms of the Easement Agreement:

1. Grantor and Grantee: The parties involved in the easement agreement, including the property owner (Grantor) and the entity or individual receiving the easement rights (Grantee).

2. Location and Scope: The specific location and extent of the easement, detailing the area of the property subject to the easement and the purpose for which it is granted.

3. Term and Conditions: The duration of the easement and any conditions or restrictions imposed on its use, such as maintenance responsibilities and limitations on alterations to the property.

4. Compensation: Any compensation provided to the property owner in exchange for granting the easement rights, including one-time payments or ongoing fees.

5. Rights and Restrictions: The rights conferred to the Grantee under the easement, as well as any limitations or restrictions placed on the use of the property by the Grantor or third parties.

Assessment and Recommendations:

1. Clarity of Terms: It is essential to ensure that the terms of the easement agreement are clearly defined and unambiguous to avoid potential disputes in the future. Ambiguities in the description of the easement area or its scope could lead to conflicts between the parties involved.

   • Recommendation: Request clarification or revisions to any ambiguous terms in the easement agreement to provide certainty and clarity for all parties.

2. Compliance with Local Regulations: Verify that the easement agreement complies with all relevant local regulations and zoning ordinances. Failure to comply with regulatory requirements could invalidate the easement and pose risks to the insured parties.

   • Recommendation: Conduct a thorough review of local regulations and zoning ordinances to ensure compliance with applicable laws. Include appropriate exceptions or endorsements in the title insurance policy to mitigate the risk of non-compliance.

3. Impact on Property Rights: Assess the impact of the easement on the property rights of the insured parties, including the Grantor and any subsequent owners of the property. Easements can restrict the use and enjoyment of the property, potentially affecting its value and marketability.

   • Recommendation: Identify any potential encumbrances on the property resulting from the easement and address them in the title insurance policy. Consider endorsing the policy to provide coverage for loss of property value or loss of use resulting from the easement.

4. Future Obligations: Evaluate any future obligations or responsibilities imposed on the Grantor or Grantee under the easement agreement, such as maintenance obligations or the requirement to obtain additional approvals for alterations to the property.

   • Recommendation: Include appropriate endorsements in the title insurance policy to cover the Grantor's obligations under the easement agreement, such as indemnification for maintenance costs or liability arising from the use of the easement.

5. Risk of Litigation: Anticipate potential disputes or litigation arising from the easement agreement, such as disagreements over the scope of the easement or the rights of the parties involved. Litigation can result in significant costs and liabilities for the insured parties.

   • Recommendation: Provide coverage for legal expenses and liabilities arising from disputes related to the easement agreement through endorsements to the title insurance policy.

Conclusion: In conclusion, the easement agreement should be carefully reviewed to assess its impact on the title insurance policy and the insured parties. By identifying potential risks and concerns and recommending appropriate exceptions or endorsements, we can ensure that the insured parties are adequately protected against any adverse effects of the easement on the property's title and their rights as property owners.

Role: You are a title examiner reviewing a chain of title for a residential property sale.

Expectation: Identify any breaks, gaps, or discrepancies in the chain of title that may affect the marketability of the property.

Task: Conduct a thorough examination of the public records and documents provided to establish a clear chain of title for the subject property.

Output: Create a written report detailing your findings, including any identified issues or discrepancies in the chain of title, and provide recommendations for further action or resolution.

Sample Result via Meta.ai

Chain of Title Examination Report

Subject Property: [Insert property address]

Introduction:

I have conducted a thorough examination of the public records and documents provided to establish a clear chain of title for the subject property. This report details my findings, including any identified issues or discrepancies in the chain of title, and provides recommendations for further action or resolution.

Chain of Title:

1. Deed from John Doe to Jane Smith (2010): The chain of title begins with a deed from John Doe to Jane Smith, recorded on January 10, 2010.

2. Mortgage from Jane Smith to XYZ Bank (2010): On the same day, Jane Smith executed a mortgage in favor of XYZ Bank.

3. Assignment of Mortgage from XYZ Bank to ABC Corporation (2015): The mortgage was assigned to ABC Corporation on February 20, 2015.

4. Deed from Jane Smith to Bob Johnson (2020): Jane Smith conveyed the property to Bob Johnson by deed recorded on March 15, 2020.

Findings and Recommendations:

• Break in Chain of Title: There is a break in the chain of title between the assignment of mortgage from XYZ Bank to ABC Corporation (2015) and the deed from Jane Smith to Bob Johnson (2020). The assignment of mortgage was not followed by a release or satisfaction of mortgage, which raises concerns about the status of the mortgage.

• Discrepancy in Property Description: The property description in the deed from John Doe to Jane Smith (2010) contains a minor error in the lot number, which may affect the property's boundaries.

• Recommendations:

  • Obtain a release or satisfaction of mortgage from ABC Corporation to clear the break in the chain of title.

  • Verify the property boundaries and correct the error in the property description.

  • Conduct a title search to ensure no other issues or discrepancies exist in the chain of title.

Conclusion:

The chain of title for the subject property has a break and discrepancy that need to be addressed to ensure marketability. I recommend taking the necessary steps to resolve these issues to provide clear and marketable title to the property.