Key Takeaways
- Complex exceptions include heir property, adverse possession, mineral rights, mechanic’s liens, and federal tax liens.
- Quiet title actions resolve multiple defects simultaneously but take 3-12 months and cost $3,000-$15,000 in attorney fees.
- Match curative strategy to risk level: affidavits for low-risk, quiet title actions or underwriter indemnification for high-risk exceptions.
- Underwriter escalation packages should include the complete file, clear exception description, risk assessment, and recommended coverage decision.
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Test Your Knowledge
1.What is a "curative" action in title examination?
2.Which type of title exception typically requires a quiet title action to resolve?
3.What is the primary risk of insuring over a known title exception?