What Is A Gap Indemnity Agreement

Wordpre developer 15th April, 2021

Please note that the effects of COVID-19 on title insurance are changing rapidly. The recommendations contained here are general in nature and may require a change on the basis of a deal-by-deal and in the decency of the effect of COVID-19 on title insurance. This blog was written by Brian Memory and Caleb Rush, lawyers at Spencer Fane LLP Plano, TX office. For more information, see spencerfane.com. Below is our assessment of the above questions and our recommendations. This memorandum relates to some of the changes we are seeing in title insurance as a result of COVID-19. Although problems and effects may vary slightly across counties and title companies, this memorandum addresses the following three (3) recurring concerns: “The company reserves the right, before and after closing, to take exceptions and requirements for the establishment of a policy (s) title (s) on the basis of the specifics of the transaction, the verification of final documents and the modifications made to the search for records and titles resulting from the consequences of the pandemic COVID 19 and business and government closures. »