Title Commitment Basics
This document summarizes the key elements of a title commitment, generated after a signed sales contract and earnest money are submitted. It includes:
- Schedule A: Details the transaction type, current owner, legal description, and title policy amount.
- Schedule B: Lists coverage exclusions and exceptions, including standard and property-specific items.
- Schedule C: Identifies potential issues like liens and judgments, outlining necessary resolutions.
- Schedule D: Contains less critical information regarding parties entitled to the title policy premium.
Download this guide for an overview of title commitments in real estate transactions.