A Commercial Real Estate Toolkit Designed for Attorneys
Inaccurate descriptions, inconsistent and conflicting surveyor reports and title issues can pop up at any time during a commercial real estate transaction, are you prepared to confidently navigate through them? Dotting all your i's and proactively handling issues that arise to prevent future disputes can eliminate many potential hurdles and save both you and your client time and money. In this unique toolkit designed specifically for real estate attorneys, you'll gain real-world insight from professionals who have worked in the field, have hands-on experience and know what challenges you'll face. Catch problems and errors before property changes hands, and gain the technical skills you need - register today!
- Gain technical knowledge on surveys, legal descriptions and title insurance.
- Analyze perimeter, strip, area, township and range legal descriptions and learn to plat complex tracts of land in metes and bounds to avoid future disputes.
- Identify challenges with zoning, restrictions and encroachments on a survey; how they affect the title; and what you can do to fix the problem.
- Examine the title commitment and various conditions, exclusions and exceptions.
- Get up-to-speed on the ALTA/NSPS land title survey standards.
- Learn what your obligation is in regard to disclosure of defects on property and the ethical ramifications defects pose.
- Find out how to handle missing markers and changed physical features.
- Gain practical tips for addressing conditions, covenants and restrictions when drafting deeds.
- LEGAL DESCRIPTIONS
9:00 - 10:00, Ray R. Michalski
- Types of Legal Descriptions
(Perimeter, Strip, Area, Principal Meridians and Base Lines, Initial Point, Plat, Township and Range, Section)
- The Inappropriate Use of Tax Parcels as Legal Descriptions
- Typographical Errors Resulting From a Failure of Someone
- Reading Legal Descriptions - Metes and Bounds
- Vague and Inaccurate Documents
- Handling Bad Description Measurements
- Discrepancies Between Legal Description in Mortgage and as Assessed by the Municipality
- Legal Descriptions in Foreclosure Proceedings and Defects as They Affect Bankruptcy
- Resolving Conflicting Legal Descriptions
- Proper Use of Corrective Deeds
- Reading a Plat and Confirming if it Was Properly Dedicated
- TITLE INSURANCE DISSECTION - REAL-WORLD EXAMPLES
10:15 - 11:15, Ray R. Michalski
- What Legal Description Error Can be Cured by Scriveners Affidavit and What Can't
- Title Standards
- The Title Insurance Policy and Commitment
- Recognizing and Curing Title Defects
- Insurance Coverage Expectations
- Title Insurance Exclusions and Exceptions
- Title Endorsements - Generally
- Marketable Title vs. Insurable Title
- Effect of Warranty Deed
- Examples of Application of the Authorities Discussed in this Presentation
- Relationship Between Title Insurance and Survey Coverage
- SURVEYING SKILLS FOR THE REAL ESTATE ATTORNEY
11:15 - 12:15, James J. Brown
- Survey Issues and the Impact on Title
- Cross-Reading the Survey and Title Commitment Together to Identify Problems
- ALTA/ACSM Land Title Surveys - New Standards
- Survey Review Process: Overcoming Challenges (Easements/Restrictions, Encroachments, Compliance to ALTA/ACSM Survey Requirements, Water Boundaries)
- Meander Lines and How to Find Boundaries That Tie to Meander Lines
- Types of Surveys and How to Read Them
- Handling Inaccurate/Incomplete Surveys and Inconsistent/Conflicting Surveyor Reports
- The Surveyor's Role/Standards Used By The Surveyor
- Preparation of the Boundary Survey
- Survey Coverage
- LEGAL ETHICS
1:15 - 2:15, William L. Loveland
- Conflicts of Interest
- Disclosure of Defects in Property
- Liability in Title Examinations
- Attorneys' Fees
- OTHER ISSUES THAT ARISE DURING THE TRANSACTION
2:15 - 3:15, William L. Loveland
- Working With Local Government, Surveyors, Appraisers and Other Non-Attorneys
- Liens and Lien Priority (Mortgagee/State Taxes, Federal Taxes, State Interests, Etc.)
- Missing Markers and Changed Physical Features
- Unaccounted for Property
- DRAFTING PURCHASE AND SALE AGREEMENTS AND DEEDS
3:30 - 4:30, John D. Gillespie
- Addressing Conditions and Covenants
- The Vital Importance of Title Review
- Getting Timing Down for a Smooth Transition
- What You Need to Know About Pre-Closing Inspection/Cooperation
- Real World Remedies You Can Use
- Acknowledging Risk of Loss
- Conditions Subsequent
This basic-to-intermediate level course is designed for attorneys. It may also benefit surveyors, planners, engineers, developers, title agents, bankers, lenders and real estate professionals.