Title Opinion - Laserfiche WebLink

Home Browse Search

2. Spousal Interest: It is my understanding that Elizabeth S. Borman is married to Marvin Borman and that Jeanne E. Corwin is married to Burt H. Corwin. Accordingly it will be necessary for the fee owner's spouses, Marvin Borman and Burt H. Corwin, to join in signing the conveyancing documents in favor of BohLand Development, Inc., a Minnesota corporation, which is to be the party executing the plat of Carriage Hill. · 3. Boundary Line with neighboring Property: The survey has revealed that the fence lines between the property owned by Keenan G. Richardson and Jean Ledell Richardson and the Corwin and Borman property do not coincide exactly with the legal descriptions of the Richardson property and the Corwin and Borman property. It is my understanding that the developer, BohLand Development, Inc. and the Richardsons have agreed to resolve the discrepancy by an exchange of Quit Claim Deeds so that the Richardson legal description and the description for the proposed plat of Carriage Hill coincide. The proposed legal description for the Richardson parcel is attached hereto as Exhibit "B II. There are two mortgages on the Richardson property. The first mortgage is dated December 29, 1997, was recorded February 13, 1998 as Document No. 6849954 and was executed by Keenan G. Richardson and Jean Ledell Richardson in favor of Residential Mortgage Group, Inc. This mortgage was assigned to Norwest Mortgage, Inc. by an Assignment of Mortgage dated December 29, 1997, recorded February 20, 1998 as Document No. 6853432. The second mortgage is dated March 31, 1998, was recorded May 4, 1998 as Document No. 6890806 and was executed by Keenan G. Richardson and Jean Ledell Richardson in favor of U.S. Bank National Association. Mortgage Modifications and Partial Releases of the above mortgages should be obtained and recorded. It is my understanding that these documents have been forwarded to the lenders for execution. The Property Identification number for the Richardson property is 10-117-23-21- 0004. 1999 tax amount is $4,057.32,base tax amount is $4,014.48,solid waste fee $42.84, Homestead for taxes payable in 1999. I have talked with Dennis Hill of the Hennepin County Department of Property Taxation and have been advised that the property line readjustment, if acceptable to the City, could be handled by an exchange of Quit Claim Deeds to be recorded before the filing of the plat of Carriage Hill. In such case the real estate tax~s on the Richardson property would not need to be paid in order to record the plat of Carriage Hill according to Mr. Hill. 4. Roadways: The following public roadways appear to affect the property: Willow Drive South on the west side of the property. Brown Road South on the east side of the property. King Street on the north side of the property.