Coverage for Structure Damage From Extraction of Minerals, Water and Other Substances b. Title V means Title V of the federal Act for the Senior Community Service Employment Program for Older Americans. 10 10. 2. the difference between the fair market value of the Title, as insured, and the fair market value of the Title subject to the matter insured against by this policy. The Company reserves all rights and defenses as to any successor or grantee that the Company would have had against any predecessor Insured. Protects against supplemental taxes for construction,change of use or ownership. a trustee or beneficiary of a trust created by a written instrument established for estate planning purposes by an Insured; (3). Private property means any dwelling and its curtilage which is being used by a natural person or natural persons for habitation and which is not open to the public and privately owned real property which is not open to the public. While it's covered by the policy there is a $2500 deductible. Covered Risk 2 includes, but is not limited to, insurance against loss from: a. a defect in the Title caused by: i. forgery, fraud, undue influence, duress, incompetency, incapacity, or impersonation; ii. The Company reserves the right, in its sole discretion, to appeal any adverse judgment or order. iv. l. PACA-PSA Trust: A trust under the federal Perishable Agricultural Commodities Act or the federal Packers and Stockyards Act or a similar State or federal law. Protects all existing structures and landscaping(including future replacements) on the property,against damage caused by others using the landfor extraction and development of minerals, water andother substances. In this policy, the following terms have the meanings given to them below. or decreased by Condition 10 or 11; or increased or decreased by endorsements to this policy. iii. Any notice of claim and any other notice or statement in writing required to be given to the Company under this policy must be given to the Company at the address shown in Condition 17. A violation or enforcement of a law, ordinance, permit, or governmental regulation (including those relating to building and zoning), but only to the extent of the violation or enforcement described by the enforcing governmental authority in an Enforcement Notice that identifies a restriction, regulation, or prohibition relating to: a. the occupancy, use, or enjoyment of the Land; b. the character, dimensions, or location of an improvement on the Land; c. the subdivision of the Land; or. Any power of eminent domain. While ALTA 7.1-06 is meant for the owner's policy, ALTA 7.2-06 is meant for loan policies. f. Entity: A corporation, partnership, trust, limited liability company, or other entity authorized by law to own title to real property in the State where the Land is located. Building Permit Violation Coverage This policy is not an abstract of the Title, report of the condition of the Title, legal opinion, opinion of the Title, or other representation of the status of the Title. b. COMPENSATION 7 ARTICLE 5. a failure to perform those acts necessary to create a document by electronic means authorized by law; v. a document executed under a falsified, expired, or otherwise invalid power of attorney; vi. The Company may do so by any method, including litigation and the completion of any appeals. of the recording of the instrument vesting the Title in the Public Records to impart notice of its existence to a purchaser for value or to a judgment or lien creditor. Iissued by . The term State also includes the District of Columbia, the Commonwealth of Puerto Rico, the U.S. Virgin Islands, and Guam. If the Company settles and pays a claim under this policy, it is subrogated and entitled to the rights and remedies of the Insured Claimant in the Title and all other rights and remedies in respect to the claim that the Insured Claimant has against any person, entity, or property to the fullest extent permitted by law, but limited to the amount of any loss, costs, attorneys fees, and expenses paid by the Company. policy or any endorsement to this policy is issued electronically or lacks any signature. The Company is not liable for and will not pay the fees of any other counsel. To the extent any term or provision of an endorsement is inconsistent with any term or provision of this policy, the term or provision of the endorsement controls. The Insured named in Item 1 of Schedule A; (b). a transferee by a transfer effective on the death of an Insured as authorized by law; or. 4. NO PARTY MAY SERVE AS PLAINTIFF, CLASS MEMBER, OR PARTICIPANT IN ANY CLASS, REPRESENTATIVE, OR PRIVATE ATTORNEY GENERAL PROCEEDING IN ANY ARBITRATION GOVERNED BY CONDITION 19. j. a. The Company has underwritten the risks covered by this policy and determined the premium charged in reliance upon the State law affecting interests in real property and the State law applicable to the interpretation, rights, remedies, or enforcement of policies of title insurance of the State where the Land is located. ALTA Policy Forms Collection. Updated on May 5, 2022 CLTA Vs. ALTA Title Policy When purchasing property, transferring property or refinancing property there are two types of commonly available title policies available - a CLTA and an ALTA Title Policy. ii. SHARE. All other requests for relief remain subject to this Condition 19. d. The Company will pay all AAA filing, administration, and arbitrator fees of the consumer when the arbitration seeks relief of $100,000 or less. Protects if you are forced to remove or remedy astructure because it violates zoning laws. b. voidable transfer under the Uniform Voidable Transactions Act; or. b. SUCCESSORS AND ASSIGNS 15 ARTICLE 14. The use of ALTA Forms, ALTA Reference materials, and any derivative materials or any section of provided ALTA text are restricted to ALTA licensees and ALTA members in good standing as of the dates of use. Permitted Exceptions shall have the meaning set forth in Section 4.3. environmental remediation or protection. k. Mortgage: A mortgage, deed of trust, trust deed, security deed, or other real property security instrument, including one evidenced by electronic means authorized by law. You go above and beyond everyday and I truly appreciate it.". Covers actual pedestrian and vehicular access tothe property. increase the Amount of Insurance. The Homeowners policy protects against manycommon, frustrating problems; and protects yourinvestment for as long as you or your heirs own theproperty. a spouse who receives the Title because of a dissolution of marriage; (4). 5 . 7. c. If there is a final judicial determination that a request for particular relief cannot be arbitrated in accordance with this Condition 19, then only that request for particular relief may be brought in court. c. Date of Policy: The Date of Policy stated in Schedule A. d. Discriminatory Covenant: Any covenant, condition, restriction, or limitation that is unenforceable under applicable law because it illegally discriminates against a class of individuals based on personal characteristics such as race, color, religion, sex, sexual orientation, gender identity, familial status, disability, national origin, or other legally protected class. Amount of Insurance: The Amount of Insurance stated in Schedule A, as may be increased by Condition 8.d. a. If the Company is prejudiced by the failure of the Insured Claimant to provide prompt notice, the Companys liability to the Insured Claimant under this policy is reduced to the extent of the prejudice. Upon completion of above- described procedure, Title Company shall be unconditionally and irrevocably committed to issue to Buyer a standard ALTA Owners Title Policy in the full amount of the Purchase Price ( Title Policy) insuring fee simple title to the Property in Buyer. the repudiation of an electronic signature by a person that executed a document because the electronic signature on the document was not valid under applicable electronic transactions law. The coverage provided by the ALTA Owner's Policy (a standard coverage policy) covers you for defects and liens typically in the Public Records' history of your title through the date and time your deed is recorded in the Public Records. The policy also excepts to those defects, liens and encumbrances which in the judgment of the insurer should appear in the policy. Protection forforced remedy of violations is subject to a deductible anda maximum dollar amount. CONTRACT OF INDEMNITY; DETERMINATION AND EXTENT OF LIABILITY. 3. No information designated in writing as confidential by the Insured Claimant provided to the Company pursuant to Condition 6 will be later disclosed to others unless, in the reasonable judgment of the Company, disclosure is necessary in the administration of the claim or required by law. c. The Companys subrogation right includes the Insureds rights to indemnity, guaranty, warranty, insurance policy, or bond, despite any provision in those instruments that addresses recovery or subrogation rights. The Company will also pay the costs, attorneys fees, and expenses incurred in defense of any matter insured against by this policy, but only to the extent provided in the Conditions. 7. To pay or otherwise settle with parties other than the Insured for or in the name of the Insured Claimant. Stewart Title Guaranty Company and its affiliated underwriters (collectively Stewart) does not guarantee the accuracy, adequacy, or completeness of any content of Virtual Underwriter, and you may not rely upon any such content. Unless the endorsement expressly states, it does not: i. modify any prior endorsement, iii. 6. 5. The conditions within psychiatric facilities have been found to traumatize individuals. Any claim, by reason of the operation of federal bankruptcy, state insolvency, or similar creditors rights law, that the transaction vesting the Title as shown in Schedule A is a: a. fraudulent conveyance or fraudulent transfer; b. voidable transfer under the Uniform Voidable Transactions Act; or, i. to the extent the instrument of transfer vesting the Title as shown in Schedule A is not a transfer made as a contemporaneous exchange for new value; or. 3. ii. DISADVANTAGED BUSINESS ENTERPRISE 17 ARTICLE 19. iii. insure against loss or damage exceeding the Amount of Insurance, or. If requested by the Company, the Insured Claimant must execute documents to transfer these rights and remedies to the Company. The results of arbitration will be binding upon the parties. Location Coverage SUBJECT TO THE EXCLUSIONS FROM COVERAGE, THE EXCEPTIONS FROM COVERAGE CONTAINED IN SCHEDULE B, AND THE CONDITIONS, STEWART TITLE GUARANTY COMPANY, a Texas corporation (the Company), insures as of the Date of Policy and, to the extent stated in Covered Risks 9 and 10, after the Date of Policy, against loss or damage, not exceeding the Amount of Insurance, sustained or incurred by the Insured by reason of: 1. This Agreement is contingent upon Purchaser obtaining at the Closing, at Sellers sole cost and expense, an ALTA Owners Title Policy without Purchaser being required to pay any rates, execute or fund any indemnities or to obtain any special endorsements other than those endorsements specified in paragraph 7.a and any other endorsements requested by Purchaser (the Title Policy). Trademarks are the property of their respective owners. Copyright 2006-2022 American Land Title Association. The ALTA Rules are available online at www.alta.org/arbitration. 6 . Virtual Underwriter is made available with the understanding that Stewart is not engaged in rendering legal, accounting, or other professional advice or services. The objects and . . American Land Title Association - ALTA: The American Land Title Association (ALTA) is a trade association representing the title insurance industry. This policy, when issued by the Company with a Policy Number and the Date of Policy, is valid even if this . AUDIT AND INSPECTION OF RECORDS 13 ARTICLE 10. Contact us for information about title insuranceand to learn more about our company. This policy is a contract of indemnity against actual monetary loss or damage sustained or incurred by an Insured Claimant who has suffered loss or damage by reason of matters insured against by this policy. 9. TheOwners policy protects you from defects and liens in thehistory of your title through the date and time your deedis recorded in the public records. No right of access to and from the Land. OPTIONS TO PAY OR OTHERWISE SETTLE CLAIMS; TERMINATION OF LIABILITY. This policy and any endorsement to this policy may be evidenced by electronic means authorized by law. Record of survey map means a map of a survey of land prepared in accordance with Section 10-9a-603, 17-23-17, 17-27a-603, or 57-8-13. ii. More Coverage, More Peace of Mind Did you know there are two policies that you can choose from - the ALTA Owner's Title Policy (standard) and the ALTA Homeowner's Policy of Title Insurance (enhanced)? DISPUTE RESOLUTION 9 ARTICLE 7. (e). Arbitration must be conducted pursuant to the Title Insurance Arbitration Rules of the American Land Title Association (ALTA Rules). For further information, please click the following link: ALTA Homeowner's Policy in Plain English Enhanced Access Coverage The Amount of Insurance will be reduced by any amount the Company pays under any policy insuring a Mortgage to which exception is taken in Schedule B or to which the Insured has agreed, assumed, or taken subject, or which is executed by an Insured after the Date of Policy and which is a charge or lien on the Title, and the amount so paid will be deemed a payment to the Insured under this policy.

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