Escrow & Title
What is 'title exception' in a title insurance policy and what does it mean for buyers?
AAn exception to the title insurance premium for certain property types
BA matter specifically excluded from coverage in the title insurance policy, such as matters visible on a survey, specific easements, or known encumbrances✓ Correct
CA time exception allowing later filing of claims beyond the standard period
DAn IDFPR exception allowing unlicensed title searches in rural areas
Explanation
Title exceptions (Schedule B exceptions) in a title insurance policy are specific matters excluded from coverage. They may include: standard exceptions (unrecorded easements, matters visible on survey, tenants' rights), matters shown on the survey, specific recorded documents (easements, CC&Rs, plat restrictions), and any title defects the title company found.
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