MEMORANDUM OF LEASE OR CONTRACT


20.1 In General


Where a memorandum of lease or contract or short form lease of record identifies the parties, the terms of the lease, and the property covered, the title examiner should report this information to his client. The examining attorney is not required to ascertain all pertinent facts and conditions of the lease or contract, unless specifically requested to do so by the client.

Comment: However, as a matter of course, the examiner should examine both the Lessor’s chain and the Lessee’s chain whenever a ground lease creating an estate for years is discovered in the examination of title to the captioned property.