December 15, 2009
The United States Court of Appeals Case for the Third Circuit recently addressed what steps a title insurer must take to except certain restrictions from coverage when an ALTA 9 Endorsement is issued. The court ruled that to expressly except a restriction found in the endorsement, a title insurer must list the actual restriction in Schedule B. The decision raises a multitude of questions regarding how specific title insurers will need to be to ensure that the restriction is in fact expressly excepted. See article written by CLTA members, Richard G. Carlston and Ella K. Gower with Miller Starr Regalia.