OTP

Owner’s Policy Availability

Many states require a notice of availability and waiver of Owner’s Policy if a Loan Policy is being issued in connection with the purchase of land.

Requirement

OTPR01 STG

Notice of Owner’s Policy Availability

The Company requires a signed statement by the purchasers/mortgagors acknowledging their right to obtain an owner’s title policy and waiving or rejecting such policy.
Comment: Many states require a notice of availability and waiver of Owner’s Policy if a Loan Policy is being issued in connection with the purchase of land.