Common use of Title Commitment and Title Policy Clause in Contracts

Title Commitment and Title Policy. (a) Seller has no obligation to provide Purchaser with a commitment for title insurance covering the Property. Prior to the auction event at which the Property is being sold, an attempt was made to include such a commitment in the electronic information made available to all prospective bidders on the Internet. At Closing, Seller will cause an owner’s policy of title insurance covering the Property in the full amount of the Purchase Price (the “Title Policy”) to be issued to Purchaser by a title insurance company selected by Seller in its sole discretion (the "Title Company").