Common use of Owner’s Extended Coverage (OEC Clause in Contracts

Owner’s Extended Coverage (OEC. The Title Commitment Will Will Not commit to delete or 294 insure over the standard exceptions which relate to: (1) parties in possession, (2) unrecorded easements, (3) survey matters, (4) 295 unrecorded mechanics’ liens, (5) gap period (effective date of commitment to date deed is recorded), and (6) unpaid taxes, 296 assessments and unredeemed tax sales prior to the year of Closing (OEC). If the title insurance company agrees to provide an 297 endorsement for OEC, any additional premium expense to obtain an endorsement for OEC will be paid by Buyer Seller 298 One-Half by Buyer and One-Half by Seller Other .

Owner’s Extended Coverage (OEC. The Title Commitment Will Will Not Not. commit to delete or 294 insure over the standard exceptions which relate to: (1) parties in possession, (2) unrecorded easements, (3) survey matters, (4) 295 unrecorded mechanics’ liens, (5) gap period (effective date of commitment to date deed is recorded), and (6) unpaid taxes, 296 assessments and unredeemed tax sales prior to the year of Closing (OEC). If the title insurance company agrees to provide an 297 endorsement for OEC, any additional premium expense to obtain an endorsement for OEC will be paid by Buyer Seller 298 One-Half by Buyer and One-Half by Seller Other n/a .