Curing Title Defects
This segment of the Special Institute on Mineral Title Examination III consists of two papers considering the drafting of title opinion curative requirements and the curing of title defects. This paper, Paper 10A, is written from the perspective of the lawyer who examines the mineral title and drafts the curative requirements. The second paper, Paper 10B, is written from the perspective of the landman who must carry out the curative requirements.
This paper will consider factors which should be taken into account when drafting curative requirements. It will also summarily examine the use of curative statutes and title standards in curing mineral title defects.
2. Drafting Title Opinion Curative Requirements
Before discussing specific guidelines for drafting mineral curative requirements, it is necessary to understand the purpose of the title opinion which contains the requirements. To gain perspective on that purpose, it is helpful to contrast mineral title opinions and their title curative requirements with legal opinions rendered in connection with the closing of commercial transactions in general and their related “due diligence.”
2.1 Transactional Opinions vs. Title Opinions
2.1.1 Typical Closing Opinions
A typical commercial legal opinion is rendered at the time of closing of a transaction, such as a corporate merger, l
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