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What is meant by the word “Notice?” In most legal jurisdictions in the United States, there are three types: Actual, Inquiry, and Constructive. Actual. Actual notice is based in sensory experience. If you saw, smelled, heard, felt, or tasted it, you are said to have had actual notice. For example, if you see a road, you have actual notice that the road exists. Inquiry. Inquiry notice is the sensory experience that causes a reasonable person…
Read MoreWhy are Exclusions and Exceptions to Title Insurance so important? The standard title insurance form used in whole or part by industry participants is the 2006 Owner’s Policy of Title Insurance produced by the American Land Title Association. The standard ALTA insurance form starts with the following language: “American Land Title Association Owner’s Policy Adopted 6-17-06 COVERED RISKS SUBJECT TO THE EXCLUSIONS FROM COVERAGE, THE EXCEPTIONS FROM COVERAGE CONTAINED IN SCHEDULE B (bold italics added) AND THE CONDITIONS,…
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