Extended Coverage Title Policy Clause Samples
An Extended Coverage Title Policy is a type of title insurance that provides broader protection to property owners or lenders against potential defects or issues with the title that may not be covered by a standard policy. This enhanced policy typically covers additional risks such as survey discrepancies, unrecorded liens, or encroachments that could affect ownership rights. By offering more comprehensive coverage, it helps to mitigate the risk of unforeseen title problems, ensuring greater security and peace of mind for the insured party.
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Extended Coverage Title Policy. Buyer may, at its option, direct Escrow Holder to procure an ALTA Extended Coverage Title Policy from Title Insurer, with liability in the amount of the Purchase Price. If Buyer does so elect an ALTA Extended Coverage Title Policy, then all references in this Agreement to the "Title Policy" shall refer to the ALTA Extended Coverage Title Policy; provided, however, Buyer shall be solely responsible to timely supply to Title Insurer, at Buyer's sole cost, any ALTA survey required by Title Insurer as a condition to the issuance of the ALTA Extended Coverage Title Policy, and provided further, that the term "Permitted Exceptions shall thereafter include both (i) the exclusions listed in the standard "Schedule of Exclusions from Coverage" of the ALTA tended Coverage Title Policy, and (ii) any off-record matters not reflected in the Pro Forma Title Policy that Title Insurer determines, by an ALTA survey or otherwise, will affect the Land.
Extended Coverage Title Policy. If Purchaser should elect to obtain an extended coverage title policy, Seller agrees to use commercially reasonable efforts to satisfy all reasonable requirements to the issuance of the title policy to the extent within the discretion or control of Seller.
Extended Coverage Title Policy. Survey. Notwithstanding the -------------------------------------- provisions of Section 7(a), Holder may require that the title policy be an Extended Coverage Title Policy. In that event, Holder shall (i) obtain and provide to the title insurer any survey that the title insurer might require in order to issue the title policy as an Extended Coverage Title Policy and (ii) pay the increase in the premium attributable to the extended coverage. Within three days after Escrow opens, Owner shall send to Holder a copy of the most recent survey (if any) of the Offered Parcel that Owner has in its possession.
Extended Coverage Title Policy. An ALTA Extended Coverage Owner's ------------------------------ Policy of Title Insurance.