attorney's opinion of title

attorney's opinion of title

The written opinion of an attorney regarding the identity of all current title owners, lienholders, and possible claimants to a particular parcel of land. Although lenders always require title insurance,which will pay off claims if the title opinion turns out to be inaccurate, many cash purchasers are content with simply the attorney's opinion of title. If other persons then assert claims in the future,the purchaser may suffer loss of the property,with the only recourse being to sue the attorney for malpractice,a difficult and expensive process and one further complicated by the general inability to find lawyers willing to sue other lawyers.

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