Standard Coverage Owner definition

Standard Coverage Owner s Policy” means the following:
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Standard Coverage Owner s Policy of title insurance (the "Title Policy") naming Buyer as the insured, or at Buyer's option, a binder for such Title Policy. The Title Policy, to be paid for by Buyer, shall be in an amount of Twenty Five Thousand Dollars ($25,000).
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Examples of Standard Coverage Owner in a sentence

  • Seller is responsible only for payment of the premium for the Standard Coverage Owner Policy.

  • If Buyer elects to obtain any New Policy, then Buyer is responsible for payment of the premium for the Standard Coverage Owner Policy, the premiums charged for and costs associated with obtaining extended coverage and endorsements to the New Policy and for any loan policy or endorsements required by Buyer's lender, but Seller is not obligated to cause Closing Agent to issue any endorsements to the New Policy or any lender policy.

  • Buyer may request that Title Company issue available endorsements to the Owner Policy, but Seller is responsible only for payment of the premium for the Standard Coverage Owner Policy.

  • As soon as reasonably possible, the Title Company or its agent(s) will provide Buyer with a preliminary report or a commitment for a 2006 ALTA Standard Coverage Owner Policy for each Property, issued by Title Company or its agent (collectively the “Title Commitment”).