Jim in AZ, post: 389315, member: 249 wrote: Surely you jest! It would take me weeks if not months to search through 140 years of our County records to determine the existence of easement affecting a parcel. If you are performing an ALTA Survey you cannot show easements that are not listed in the Title Report - the Title Co. will not allow it.
Our work products aren't dictated by Title Companies. If they told me to take a valid easement off my map they would no longer appear on my client list.
Liability is the reason we research and show easements. The Title Company does not have a standing in the agreement between myself and my Client. I would never state that I have shown ALL easements or anything else. I will definitely show all easements that were found through research or observation. Why would my E&O carrier not cover me if I am not making a warranty or guarantee? I have an ongoing relationship with the E&O carrier. They review contract langue and advise on liability issues upon request. The Title Company does not pay, regulate or insure me? I perform ALTA Surveys and My Clients give me repeat business, so I don't see that as a problem? The Client needs to know why the Title Company believes that not acknowledging a valid easement is in their best interest. Why would this ever be in the Client's best interest? The fact is that Title Companies play games. They are on the actuarial model that Kent described in a previous post.
lmbrls, post: 389561, member: 6823 wrote: Liability is the reason we research and show easements. The Title Company does not have a standing in the agreement between myself and my Client. I would never state that I have shown ALL easements or anything else. I will definitely show all easements that were found through research or observation. Why would my E&O carrier not cover me if I am not making a warranty or guarantee? I have an ongoing relationship with the E&O carrier. They review contract langue and advise on liability issues upon request. The Title Company does not pay, regulate or insure me? I perform ALTA Surveys and My Clients give me repeat business, so I don't see that as a problem? The Client needs to know why the Title Company believes that not acknowledging a valid easement is in their best interest. Why would this ever be in the Client's best interest? The fact is that Title Companies play games. They are on the actuarial model that Kent described in a previous post.
"The Title Company does not have a standing in the agreement between myself and my Client."
They most certainly do! Ever read the fine print in the Title Commitment? Your work is incorporated into and made a part of the Commitment, and they do not have to accept it if it's not in their best interest.
"Why would this ever be in the Client's best interest?"
The Title Co. doesn't give 2 cents about the policyholder's interest! All they care about is their liability!
thebionicman, post: 389555, member: 8136 wrote: Our work products aren't dictated by Title Companies. If they told me to take a valid easement off my map they would no longer appear on my client list.
The Title Co. is NEVER your client in an ALTA. Your work is a part of their Commitment - read the fine print. Your Survey has to be acceptable to THEM. The client has nothing to do with it - except paying the bill.
Jim in AZ, post: 389553, member: 249 wrote: Imbris,
You do understand that this is a liability issue, don't you? It's not about withholding known information, its about the unknown information that you don't show. If you depict "known" easements your client has every right to think that you have shown ALL easements. If one that you were unaware of pops up down the road, and your client, or even a third party, is damaged, guess who will be held responsible? Correct, and your E&O carrier more than likely will not cover you. There have been articles written about this that you could find, but it would be easier to ask you E&O professional.
As far as "withholding known information" goes, it is possible that you could be required to do so on an ALTA Survey Map if the Title Co. does not want it shown. Title Co. searches currently do not go back more than 30 years. If you notify them of one older one that they did not list, they may or may not decide to include it. If you are uncomfortable with that your option is not performing the work.
Wow...it sounds like we are reducing our liability out of a proffesion.
If I claimed to be showing all easements or researched so haphazardly that I might miss some obvious ones I might be worried.
Jim the title company has to accept it to issue title insurance. The Client needs to know what they are getting. The Client can go to another title company that is not trying to screw him once he knows the facts.
"The Title Co. doesn't give 2 cents about the policyholder's interest! All they care about is their liability!"
We are totally in agreement with this statement. We only disagree on who's interest we should represent. I am going to sign off on this thread with two words "contract law". Explain this process to your attorney and see what they say.
Jim in AZ, post: 389596, member: 249 wrote: The Title Co. is NEVER your client in an ALTA. Your work is a part of their Commitment - read the fine print. Your Survey has to be acceptable to THEM. The client has nothing to do with it - except paying the bill.
One purpose of the ALTA standards is to stop Title Companies from demanding stupid things. I work with the client and Title company to get a table a that meets everybody's needs. I submit a preliminary to make sure everything was understood. If the title company makes demands outside of the table a as negotiated and the ALTA standards they get a flat no. They come off my client list (i do work for title companies). I also stop recommending them to clients for use on transactions. If I get a package from a client and they have used that officer I don't take the job.