LOS ANGELES—EVP for acquisitions calls her favorite lawyer:“We're buying Three Rivers Shopping Center, so get going on duediligence.”
Favorite lawyer immediately calls title company: “I need a titlereport on Three Rivers Shopping Center, ASAP,” and surveyor: “Ineed a survey of Three Rivers Shopping Center, ASAP.”
In due course the title company produces a title report namingthe owner, giving an eight-page metes and bounds propertydescription indecipherable to normal humans, and a list ofcovenants, easements and liens affecting the property. Soonthereafter, the surveyor produces a survey showing many parcels ofland, the buildings located on them and plots of the variouseasements affecting those properties.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Unlimited access to GlobeSt and other free ALM publications
- Access to 15 years of GlobeSt archives
- Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
- 1 free article* every 30 days across the ALM subscription network
- Exclusive discounts on ALM events and publications
*May exclude premium content
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.