pf_03056 - Laserfiche WebLink

Home

Chicago Title Insurance Company Residential Title Insurance Policy One-to-Four Family Residences O\Vner's Coverage Statement This policy insures your title to the land described in Schedule A-if that land is a one-to-four family residential lot or condominium unit. Your insurance, as described in this Coverage Statement, is effective on the Policy Date shown in Schedule A. Your insurance is limited by the following: . Exclusions on page 2 Covered Title Risks . Exceptions in Schedule B . Conditions on pages 2 and 3 We insure yoo against actual loss resulting from: . any title risks covered by this Policy-up to the Policy Amount and . any costs, attorneys' fees and expenses we have to pay under this Policy This Policy covers the following title risks, if they affect your title on the Policy Date. 1. Someone else owns an interest in your title. 2. A document is not properly signed, sealed, acknowledged, or delivered. 3. Forgery, fraud, duress, incompetency, incapacity or impersonation. 4. Defective recording of any document. 5. You do not have any legal right of access to and from the land. 6. There are restrictive covenants limiting your use of the land. 7. There is a lien on your title because of: · a mortgage or deed of trust . a judgment, tax, or special assessment · a charge by a homeowner's or condominium association 8. There are liens on your title, arising now or later, for labor and material furnished before the Policy Date-unless you agreed to pay for the labor and material. 9, Others have rights arising out of leases, contracts, or options. 10, Someone else has an easement on your land. 11. Your title is unmarketable, which allows another person to refuse to perform a contract to purchase, to lease or to make a mortgage loan. 12. You are forced to remove your existing structure-other than a boundary wall or fence-because: . it extends on to adjoining land or on to any easement . it violates a restriction shown in Schedule B . it violates an existing zoning law 13. You cannot use the land because use as a single-family residence violates a restriction shown in Schedule B or an existing zoning law. 14. Other defects, liens, or encumbrances. Company's Duty to Defend Against Court Cases We will defend your title in any court case as to that part of the case that is based on a Covered Title Risk insured against by this Policy. We will pay the costs, attorneys' fees, and expenses we incur in that defense. We can end this duty to defend your title by exercising any of our options listed in Item 4 of the Conditions. Page 1 This policy is not complete without Schedules A and B.