When dealing with a fiduciary, you must verify (where applicable) that the beneficiary of a trust, minor under a gift to minor, or ward in a guardianship is still a minor and that the representative can still act. Sometimes the title is vested in a minor; in that case you must require a guardianship.
Proof That The Child is Still a Minor
The Company requires satisfactory proof that __________ is alive, has not been in the military service, has not married, has not had legal disabilities removed, and has not yet attained the age of eighteen. If said person is now an adult, that person must join in any conveyance of the title to the land.
Comment: If a guardianship is pending, you must verify that the ward is alive and (if applicable) is a minor so that the guardian may convey the title to the land. Some trusts may have similar provisions. On a sale by a custodian under the Uniform Gift to Minors Act, you must verify these facts.
Proof that 18 Years of Age in Current Transacti
The Company requires satisfactory proof that _______________ has attained the age of eighteen. At that time, the Company may make additional requirements or exceptions.
Comment: If the sellers or mortgagors are not clearly adults, verify that they are age 18. This may be the case in some conveyances by, or at the behest of, relatives, and some conveyances after vesting pursuant to wills or intestacy.
Proof of Age in Prior Transaction
The Company requires satisfactory proof that _______________ had attained the age of eighteen as of _________________. At that time, the Company may make additional requirements or exceptions.
Comment: It may be doubtful as to whether the grantors in a prior transaction were adults when the document (e.g., deed) was executed; if so, you must require proof of their age at that time.
The Company requires appointment of a _____________ for _________________________, a minor, and proper court authorization of the proposed transaction. At that time, the Company may make additional requirements or exceptions.
Comment: If a minor owns an interest in the land, you must require appointment of a guardian, conservator, or representative and proper court authorization of the transaction.
Note: You may add additional local requirements here. Please consult with our underwriting personnel in preparing appropriate provisions.
Exception in Policy Issued to Minor
Before the Company issues a title insurance policy on a subsequent transaction by the insured, satisfactory evidence must be presented to the Company that the insured can enter into a legally binding contract. The Company assumes no liability because of the minority of the insured.
Comment: Before you issue an Owner’s Policy to a minor, you should secure approval by the Company. The Company prefers a note, such as the above, disclosing the possible problems that the insured may face in selling or mortgaging in the future.
Title in Guardian, Conservator, or Representati
___________, as _________ of the estate of _____________ under Case or Docket No. ____________________, subject to the requirements herein.
Comment: Technically, title is not held by the guardian or conservator. 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.
Title in Minor or Incompetent
_____________________, subject to proceedings under Case or Docket No. _____________ in which _______________ has been appointed as ________________.
Comment: Technically, title is vested in the minor or incompetent. The commitment must also require appropriate court approval.