| A | B |
|---|
| Title insurance policies provide protection to a party owning an interest in real estate against | Loss or Damage arising out of defects in or claims against the interest as insured under a policy |
| Title insurance policies are | "transactional" in nature typically issued to a party who has just been given or conveyed an interest in land |
| Title Insurande policies are a form of "risk Elimination insurance rather than | risk assumption and are issued after a search and examination of public records |
| Search and examination will determine | the present owner of of property and identify any liens, encumbrances or other interests which affect the land and interest being insured |
| Owners policy of title | to protect the owner of title to land against any claim or attack on the title as insured - policy issued in the amount that the insured has paid to acquire his interest |
| Owners policty of title effective date | day after the insured's interst in land is RECORDED on the public records |
| Title insurance policies insures | named insured as of effective date of the policy, title to the estate insured is vested in the insured and the insured's interest is subject only to those matters shown on Schedule B of the policy |
| Coverage and protection of an owner's policy continues as long as | the insured has an interest in the property or has liability under covenants of warranty given to a purchaser from the insured |
| Owner policy Forms are drafted by | American Land Title Association as ALTA Owner's Policy |
| Most underwriters have filed | 2006 Owners policy form with date of each policy form on the policy jacket |
