Md Title Insurance

General Warranty Deed

ALL predecessors in title have done nothing to cloud title

Schedule A Lender policy

Who what when

Location Survey ( drawing)

used to locate the improvements within property lines. NOT property lines accurate within 1 foot

IRS Tax Lien

10 years from date of assessment

HOA and Condo Liens are enforceable for:

12 years from the date of recording

A judgement in favor of the United states is enforceable for:

20 years from date of entry

Subordination Agreement

Allows the creditor to take te place in priority

Binder

An offer of insurance with terms of acceptance

Sections of a Title Insurance Commitment

Commitment Jacket(Preamble and Conditions) Schedule A Schedule B Section 1 ( Requirements) Schedule B Section 2 (Exceptions)

ALTA 4

Condominium Endorsement

Title Policy Jacket sections

Covered Risks Exclusions Conditions

Intestate

Dying without leaving a legal will

ALTA 8

Environmental Portection Lien - Land used for residential purposes

Schedule B 1 lender

Exceptions

Schedule b 2- owner policy

Exceptions

Quickclaim Deed

Gives No warranties (Red Flag)

Tenancy by the entireties

Legally married couples

ALTA 7

Manufactured Housing Endorsement

Special Warranty Deed

Most Common in MD- Grantor guarantees they did nothing to cloud title during their ownership

MD Tax Liens and Judgments in favor of MD is enforceable for

No statue of limitations

ALTA 5

Planned Unit Development Endorsement (HOA)

Fidelity Bond

Protects Employer against acts of employee

Schedule B1 - owner policy

Requirements

ALTA 9

Restrictions, Encroachments, Minerals

Subrogation

Step into the shoes of insured

Schedule b2 lander

Subordinate matters

Insurance Twisting

Substituting the insured existing coverage with differing detrimental coverage

Joint Tenancy

Two People own property and reserve rights of survivorship: PITT OSSESSION iNTEREST tIME tITLE

Tenancy in Common

Unequal percentage ownership - No rights to survivorship

The Boundary Survey

Used to specifically locate property lines

ALTA 6

Variable Rate Endorsement/ Mortgage has an adjustable interest rate

testate

dying WITH a legally valid will

Trustees Deed

gives no warranties of title

Surety Bond

protects teh public against settlement company owner who steals from escrow account

Schedule A- owner policy

the Who What Where

Endorsement

to expand or limit coverage