When insuring any transaction where a guardian of a minor or incompetent is mortgaging or conveying property, the commitment must contain the following requirement (similar requirement for Uniform Probate Code conservators):
“Certified Copy of (1) Petition and Order Appointing _____, Guardian; and (2) Specific Court Order authorizing the (sale/mortgage/lease) of the real property described herein must be obtained from a court of competent jurisdiction and filed in the appropriate county records.”
The Petition for Order of Sale should contain the following items:
1. The reasons for the sale or mortgage;
2. An adequate description of the property;
3. The price and terms of the sale, mortgage, or other contract;
4. Whether the sale is private or public; AND
5. The subsequent terms and conditions of the court orders approving the sale or mortgage. Unless this requirement is met to the satisfaction of the title agent, exception to the matter must be made in the title policy.