Wednesday, January 28, 2009

query: can a title insurer refuse to issue policy after commitment

I say yes. What do you think?

2 comments:

Anonymous said...

Certainly. Because not all requirements (which the good agent made sure were there in the Commitment) were met.

Otherwise?

Certainly not.

(My word vefication is "splogic")

Diane Cipa said...

I agree, Anon. I thought about this some more last night.

A title insurer has no motivation to NOT write a policy because, HEY, everyone wants to be paid, right?

The only logical reason for not moving forward and insuring is because some new issue has arisen which changes the ballgame. Every well-written commitment has a loophole for this rare instance.