The Commitment for Title Insurance consists of four sections:
Schedules A, B, C and D.
Schedule A provides the following information:
- the date of the commitment
- who we are proposing to insure (lender and/or purchaser)
- the amount of title insurance coverage
- the legal description of the property we are insuring
- how title to the property is vested (who owns the interest in the property and the type of interest)
Schedule B contains exceptions to coverage. These are items that currently and may always affect the property. Some examples are:
- deed restrictions
- easements
- building lines
Schedule C shows items to be resolved prior to closing. Some examples are:
- existing liens
- bankruptcies
- abstract of judgments
- marital status issues
- probate issues
- vesting problems
- mechanic's lien affidavits
Schedule D is a required regulatory disclosure of the ownership of the title insurance company, the cost of the policies being issued, and certain consumer protection notices.
Please note that this information is being provided as a courtesy and does not constitute legal advice. Please consult an attoney regarding specific questions or conerns.