TO: _____________________________ DATE: _____________________________
Buying property identified as: ________________________________________________
A Mortgagee's Policy of title insurance insuring the title to the property you are buying is being issued to your mortgage lender, but the policy does not provide title insurance coverage to you.
You may obtain an Owner's Policy of title insurance which provides title insurance coverage to you. The additional cost to you for an Owner's Policy of title insurance in the amount of $_____________ is $__________________, if you request it at this time. You may also require title insurance coverage for unrecorded mechanic's liens for work performed or materials furnished prior to settlement. This coverage may or may not be available. If available, an additional cost of $_________________ will be charged to you.
NOTE: The value of subsequent improvements to the property may not be covered by the title insurance policy.
NOTE: For your purchase, affirmative mechanic's lien coverage
__________ IS AVAILABLE
__________ IS NOT AVAILABLE
If you are uncertain as to whether you should obtain an Owner's Policy of title insurance, you are urged to seek independent legal advice. If you are uncertain as to whether you should obtain an Owner's Policy of title insurance coverage with affirmative coverage for unfiled mechanic's liens, you are urged to seek independent legal advice.
_____ I/We have reviewed a copy of the title insurance commitment including proposed
affirmative mechanic's lien coverage.
_____ I/We DO request an Owner's Policy of title insurance.
_____ I/We DO request an Owner's Policy of title insurance WITH AFFIRMATIVE
MECHANIC'S LIEN COVERAGE.
_____ I/We DO NOT request an Owner's Policy of title insurance.
(NEW RESIDENTIAL CONSTRUCTION)
No guidelines are available for this form at this time.