Opinion ID: 1144948
Heading Depth: 1
Heading Rank: 4

Heading: The Title Insurance Commitment

Text: The Purchase Agreement Acceptance and Receipt having been entered into on the 31st of May, 1977, the record shows that a title insurance policy commitment, dated May 23, 1977, had been previously ordered. This commitment (delivered to buyers shortly after they delivered their note and mortgage to sellers on July 1, 1977, according to Sedam's deposition), obligated the title insurance company to insure the property in fee title in Donald G. Price and G. Roger Sedam under certain conditions. The commitment was predicated upon these essential propositions: The commitment's Paragraph 2 provided: The estate or interest in the land described or referred to in this commitment and covered herein is fee simple. Paragraph 3 said: Title to said estate or interest in said land is at the effective date hereof vested in Oliver Bakken and Geneva Bakken. One of the requirements defined by the commitment as necessary to create a fee simple estate in the property in the proposed insureds, Donald G. Price and G. Roger Sedam, was the following: Instruments necessary to create the estate or interest to the insured must be properly executed, delivered and duly filed for record.  (Emphasis supplied.) In plain English  these various provisions contained in the contract of sale and the title insurance commitment impose the following rights, duties and obligations upon the parties: