DDS

Deeds

The title commitment customarily requires a deed (or other instrument, if appropriate) from the current owner. Additional requirements may be necessary when securing conveyances from fiduciaries or entities.

Requirement

DDSR01 STG

Requirement Documents

Documents satisfactory to the Company creating the interest in the land and/or the mortgage to be insured must be signed, delivered and recorded.
Comment: The title commitment customarily requires a deed (or other instrument, if appropriate) from the current owner. Additional requirements may be necessary when securing conveyances from fiduciaries or entities.

DDSR04 STG

Require Deed

The Company requires for its review a satisfactory Deed conveying the title to the land. The Deed must then be signed, delivered and recorded.
Comment: The title commitment customarily requires a deed (or other instrument, if appropriate) from the current owner. Additional requirements may be necessary when securing conveyances from fiduciaries or entities.

DDSR05 STG

Fiduciary Deed

The fiduciary deed must express full consideration.

DDSR06 STG

Deed of Infant, by Guardian

The closing deed must be made in the name of the infant, by the guardian, and not in the name of the guardian on behalf of the infant, unless the deed recites the source of authority for the act.

DDSR07 STG

Deed of Incapacitated Person, by Guardian

The closing deed must be made in the name of the incapacitated person, by the guardian, and not in the name of the guardian on behalf of the incapacitated person, and the deed must recite the court orders as source of authority for the act.

DDSR08 STG

Deed of Principal, by Attorney in Fact

The closing deed must be made in the name of the principal, by the attorney in fact, and not in the name of the attorney in fact on behalf of the principal, unless the deed recites the source of authority for the act.

DDSR09 STG

Deed of fiduciary reciting nominal consideratio

The deed recorded in _____________ , on __/__/__ (a date less than ten years ago),was made by a fiduciary, reciting only nominal consideration, [add where appropriate: “and does not appear to be an estate distribution” or “and does not appear to be a distribution under the trust”]. Proof is required as to the actual consideration for the transfer.

DDSR10 STG

Fiduciary deed improperly done

The deed recorded in _________, on __/__/__ was made by [Guardian, Conservator, Committee, Attorney in fact] on behalf of the [Infant or Incapacitated Person, Conservatee, Incompetent, Principal], instead of being made by the [Infant or Incapacitated Person, Conservatee, Incompetent, Principal], by the representative, and the deed so executed does not recite the proper authority and/or has not been properly indexed against the name of the represented party for same. A correction deed is required.

DDSR11 STG

Erroneous “Being the same premises” clause

The deed recorded in _________, on __/__/__ contains a “same premises as” clause, referring to previous deed recorded in _________. The previous deed conveyed only a fractional interest in the real property. A correction deed is required eliminating the “same premises as” clause.

Note: You may add additional local requirements here. Please consult with our underwriting personnel in preparing appropriate provisions.

DDSR12 STG

Delivery Question

Proof is required that deed recorded on __/__/__ in ____________ was delivered during the lifetime of the grantor named therein.

DDSR13 STG

Fiduciary deed recites nominal consideration

Deed made by __(name and title of fiduciary)__ as grantor, to __(name)__, grantee, dated __/__/__, recorded __/__/__ in (Liber, Record Liber, Reel) ___ (C)p ___, recites a nominal consideration of $_______. Proof is required that a full and adequate consideration was paid by the grantee for said conveyance.

DDSR14 STG

Where deed is delivered as a gift or without co

The insured under this policy is not a purchaser for value. Therefore, policy will except any loss or damage sustained by the insured which would not have been suffered had the insured been a bona fide purchaser for value.

DDSR15 STG

Deed to current owner for “no consideration” an

The deed in _________________, recorded __/__/__, appears to have been given for no consideration. The circumstances regarding the conveyance must be disclosed to the company, and additional exceptions may be raised. If the proofs are not satisfactory to the Company, policy will except any loss or damage sustained by the insured which would not have been suffered had the grantee been a bona fide purchaser for value.

DDSR16 STG

Deed to current owner for “no consideration” an

The deed in _________________, recorded __/__/__, appears to have been given for no consideration. The circumstances regarding the conveyance must be disclosed to the company, and additional exceptions may be raised. The following judgment(s) appear to be against the grantor:

[recite judgments]

While these judgments are technically not liens upon the real property, unless they are disposed of to the satisfaction of the Company, policy will except any loss, cost or damage, including attorney’s fees, resulting from any attempt by a judgment creditor or an assignee of a judgment creditor to set aside the conveyance as a transfer in fraud of creditors.

DDSR17 STG

Where deed is made to a trustee under an agreem

Deed dated __/__/__, recorded __/__/__ in (Liber, Record Liber, Reel) ___ (C)p ___, is made by __(name)__, grantor, to __(name)__, grantee, as trustee under a trust agreement made between __(name)__ and __(name)__, dated __/__/__. This agreement does not appear of record. It must be produced, examined and recorded and title is subject to such objections as an examination of such agreement may disclose.

Exception

DDSX01 STG

Missing Trust clause

The deed recorded in _________, on __/__/__ does not contain the trust clause required by Section 13 of the Lien Law. Policy excepts mechanic’s liens filed within eight months after the recording of the deed.

DDSX02 STG

Deed for fair value

This certificate has been prepared for the purpose of insuring a conveyance for valuable consideration. In the event the transfer is not for valuable consideration, or is for antecedent debt, the Company must be advised so that additional exceptions may be raised.