Authority and Acknowledgments

A statement of authority provides evidence there is an entity and establishes the authority of one or more persons to act on behalf of an entity. A statement of authority may contain any limitation that may exist upon the authority of the person named in the statement or holding the position to bind the entity. Read further for what must be executed for authority and acknowledgments respectively.

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Mineral Rights

In Colorado mineral rights can exist as a separate estate, treated independently of the ownership of the surface estate. Owners of land in Colorado can sever some or all, of the mineral estate from the surface estate. Likewise, federal and state governments may have reserved some or all, of the mineral estate when property was first granted into private ownership.

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Handling A Mechanic’s Lien on your Title Commitment 

 There are certain title issues that arise which need to be dealt with immediately. As a general rule, when you receive the Title Commitment for your transaction, the first thing you should do is flip to the Requirements Page. The Requirements Page will disclose whether there is an item on title that will delay closing. 

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How to Avoid Cyber Fraud 

Cybercriminals continue to create new ways to fraudulently obtain funds from settlement agent escrow accounts. There is no single solution for cyber threats and not all methods are foolproof. Learn steps you can take to prevent cyber fraud.

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Power of Attorney 

A Power of Attorney (“POA”) is a document that allows for a Principal to hand over authority to an Agent to act on behalf of the Principal. Another name for the Agent is “Attorney-in-Fact”.

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Probate Requirements  

In Colorado, probate is the legal process by which title to assets are transferred from the decedent to his or her devisees or heirs where the ownership of the assets are not owned as joint tenants. All wills and intestate estates must be probated, but the degrees of court involvement and complexity range from simple and inexpensive to complicated and costly.

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Tenancy In Common vs Joint Tenancy 

When two or more buyers are purchasing a home, one of the most important decisions they will make is how they will be vested with the property, either as tenants in common or as joint tenants. Deciding which type of tenancy would be most beneficial to the buyers of a property depends on the circumstances of the purchase (e.g. investment, principal residence, estate planning, etc.) and the relationship of the parties (e.g. married, siblings, parent and children, etc.). 

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Title Insurance – Never Buy a Home Without It 

 Did you know that title insurance, most notably the owner’s and lender’s title insurance policy, is the foundation that allows you to buy, sell, and mortgage real estate? Not only is the real estate industry in and of itself significant, but it is also the lifeblood of the American economy. 

 

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Trust First Integrity   

Title insurance is a charge which protects your investment against loss arising from flaws and defects already existing in the title for as long as you or your heirs own the property.

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Understanding the Closing Process 

When purchasing a home, there are so many details to take care of that it can feel overwhelming. The last thing you need to worry about is a problem with your closing. This is where First Integrity Title steps in to handle the details and make sure everything runs smoothly. 

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Transfers After Acquisition 

The topic of transferring property after acquisition and the effect of the transfer on title insurance coverage comes up fairly frequently. The typical scenario is one where a person buys a piece of property and receives an owner’s title insurance policy to protect his or her interests. 

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Types of Deeds 

A deed is a legal instrument, in writing, duly executed and delivered, whereby the owner of real property, otherwise referred to as the grantor, conveys to another, referred to as the grantee, some right, title, or interest in or to the subject of real estate. 

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Understanding a Deed of Trust 

The preferred method in Colorado to secure loans against real property is a deed of trust. A deed of trust is given as security for a debt. When a borrower takes out a loan from a lender, the borrower promises to repay the loan through what is called the promissory note. The deed of trust ties that promise to repay to specific real property. 

 

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What You Need To Know About Hold Opens 

A Hold Open is a title insurance product whereby the title insurance company who is insuring the initial sale of the property agrees to reinsure the property at a subsequent sale within a certain period of time, generally 12 -18 months, for a substantial discount.

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Why Title Insurance? 

Title insurance is a charge which protects your investment against loss arising from flaws and defects already existing in the title for as long as you or your heirs own the property.

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Title Requirements for Entities 

The legal capacity of the seller and buyer to execute closing documents is a common issue that arises in real estate closings when entities are involved. Knowing what title requirements will be for different entities allows you to prepare your clients for those requested items and prevent any delays, confusion, or “fire-drills” that can be very stressful as the property heads to closing.

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HOA Retrieval Service & Checklist

First Integrity Title Company’s Homeowner Association (HOA) Department continues to assist your sellers in obtaining and distributing HOA Common Interest Community (CIC) documents when requested. First Integrity Title’s HOA department has also provided a checklist of all association documents outlined in the 2019 Contract to Buy and Sell Real Estate for your use.

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