The addendum states that a paragraph contained within the original contract is superseded by the information contained in the addendum. Within 30 days after the abstract company receives a copy of the contract, the seller must furnish to the buyer, at the expense of the seller, an abstract of title certified by the abstract company from the sovereignty to the effective date of the contract and supplemented to the closing date. If objections are not cured by the extended closing date, the contract must be terminated and the earnest money will be refunded to buyer unless the buyer elects to waive the objections.
Killeen Texas Addendum for Abstract of Title is a legal document that serves as an extension or supplement to the abstract of title, providing additional information about a property's ownership history, liens, encumbrances, or any other relevant details. This addendum plays a crucial role in real estate transactions, ensuring that potential buyers and sellers have a comprehensive understanding of the property's title and any potential issues. There are different types of Killeen Texas Addendum for Abstract of Title, depending on the specific requirements and circumstances of the property. Some common types include: 1. Chain of Title Addendum: This type of addendum focuses on providing a detailed account of the property's ownership history, listing all previous owners and any transfers or conveyances that have occurred over time. It helps to establish a clear chain of title, which is essential for determining ownership rights. 2. Liens and Encumbrances Addendum: This addendum is primarily concerned with identifying and documenting any outstanding liens, mortgages, easements, or other encumbrances that may affect the property's title. It ensures that all parties involved are aware of these obligations and potential restrictions. 3. Survey Addendum: In cases where a survey of the property has been conducted, this addendum incorporates a detailed description of the property's boundaries, dimensions, and any encroachments or discrepancies discovered during the survey. It helps to verify the accuracy of the property's legal description. 4. Tax and Assessment Addendum: This addendum provides information about the property's tax status, including any unpaid taxes, special assessments, or tax liens that may exist. It ensures that parties are aware of all current and outstanding tax obligations. 5. Easements and Restrictive Covenants Addendum: This type of addendum focuses on identifying and describing any recorded easements, right of ways, or restrictive covenants that may apply to the property. It helps to ensure that all parties are aware of any limitations or requirements associated with these legal instruments. Overall, the Killeen Texas Addendum for Abstract of Title is a crucial component of the real estate transaction process. It provides a comprehensive overview of the property's ownership history, liens, encumbrances, and other relevant details, enabling parties to make informed decisions and address any potential issues before completing the transaction.
