GRD
Guardianship
If a guardian has been appointed to administer a person’s estate, any voluntary or involuntary transfer must be authorized in the proceeding. You must verify that the ward is still alive and a minor (if applicable); once the ward dies or reaches maturity, the powers of the representative may cease. A guardian has no power to sell land unless qualified in that jurisdiction.
Requirement
GRDR01 STG
Court Approval of Transaction
(Name) , has been appointed as the guardian of the estate of _________________. The Company requires for its review satisfactory orders authorizing the guardian to complete the transaction on behalf of the ward and to execute the appropriate instruments. Upon the entry of the orders, the Company may make additional requirements or exceptions.
Comment: If a guardian has been appointed to administer a person’s estate, any voluntary or involuntary transfer must be authorized in the proceeding. You must verify that the ward is still alive and a minor (if applicable); once the ward dies or reaches maturity, the powers of the guardian may cease. A guardian has no power to sell land unless qualified in that jurisdiction.
See Underwriting Manual
Schedule A
GRDS02 STG
Title in Guardian
___________, as guardian of the Estate of _____________ under Cause No. _____________, subject to the requirements herein.
Comment: Technically, title is not held by the guardian. Frequently, commitments reflect title in the representative in order to facilitate the execution of documents by the representative. The commitment also must require appropriate court approval.
See Underwriting Manual
GRDS03 STG
Title in Minor or Incompetent
_______________, subject to proceedings under Cause No. ___________________ in which _______________ has been appointed as ________________.
Comment: Technically, title is vested in the minor or incompetent. The commitment also must require appropriate court approval.
See Underwriting Manual