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Same Thing, Different Result by Sarah Holdener, Esq. As I explained in an earlier title tip, some of the revisions to
the 2006 Policies were for clarification due to the courts misinterpreting language
in the 1992 Policies. And frankly, the old version was a bit
confusing. Specifically there were areas where the American Land Title
Association (ALTA) intended there to be coverage by listing something as an
Exception to an Exclusion from coverage. The double negative was
intended to create positive coverage, but the courts frequently interpreted
these as non-covered items. With the 2006 Policies ALTA removed these Exceptions to the
Exclusions and listed them instead as Covered Risks. A few examples
contained in both the 2006 Owners Policy and Loan Policy as Covered Risks are
as follows: 5. The violation or enforcement of any law, ordinance,
permit, or governmental regulation (including those relating to building and
zoning) restricting, regulating, prohibiting, or relating to 6. An enforcement action based on the exercise of a
governmental police power not covered by Covered Risk 5 if a notice of the
enforcement action, describing any part of the Land, is recorded in the
Public Records, but only to the extent of the enforcement referred to in that
notice. 7. The exercise of the rights of eminent domain if a
notice of the exercise, describing any part of the Land, is recorded in the
Public Records. 8. Any taking by a governmental body that has occurred and
is binding on the rights of a purchase for value without Knowledge. Any questions can be directed to Benchmark Title at
618-239-3750. Please feel free to call or email:
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Drop Box Benchmark Title has
added a drop box for your convenience outside our main office in
Shiloh, IL. Please feel free to take advantage
of the new drop box by dropping by with your next new
title order! Did you say free? Be the first in your
office to try out SureClose.com,
Benchmark Title's new FREE online transaction management system. Why waste
time making status phone calls or standing by the fax waiting for your title
commitment when you can get what you need instantly from your own computer.
Visit SureClose.com for more
information or call April
Tolan, our SureClose Specialist, at 618-239-3750 for your sign-on so you
can start saving yourself time and money today. We'll even give you and your
clients a free CD at closing containing copies of their closing documents. Give me my policy! Did you know that
lenders and home buyers now receive their title policies at the closing
table? Call Michelle
Null, VP Escrow Operations, to learn more about this exciting new
program. Ready to refi? Lenders and
homeowners will want to hear about our fantastically low new refinance rates.
Call today for a quote! Why wait? You can place your
next title order now by clicking here. Patricia Wilson
joined Benchmark Title in September 2005 as a Title Examiner. She
first began working in title insurance in 1999 in the policy department for a
St. Louis area title company as a policy clerk. She
has also worked as a policy examiner, typist, proofreader, abstractor
and has searched properties in counties throughout the St. Louis
and Metro East areas. Since joining Benchmark Patty has examined
residential and commercial properties and recently moved into the position
of escrow processor in the escrow department. During any down
time, she also assists with residential examinations. Patty lives
in Troy, IL with her husband Doug and two cats, Shadow and
Lexi. She can be reached at 618-239-3750 or by email at
pwilson@benchmarktitle.net.
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