Escrow & Title
In a Wisconsin 'survey exception' in a title insurance policy, the insurer:
AGuarantees all boundaries are correct
BExcludes coverage for matters a current survey would disclose (e.g., encroachments, boundary disputes)✓ Correct
CRequires the buyer to obtain a survey at the insurer's expense
DAutomatically covers all easements
Explanation
The standard survey exception excludes from coverage any matters that an accurate survey would reveal, such as encroachments, boundary line discrepancies, or easements not shown in public records. Buyers can often remove this exception by providing a current survey.
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Key Terms to Know
Title Insurance
Insurance protecting against financial loss from defects in a property's title that existed before closing but were unknown at the time of purchase.
EasementA non-possessory right to use another person's land for a specific purpose.
DeedA written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
EncumbranceAny claim, lien, charge, or liability attached to real property that affects its value or limits its use.
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