Otherwise the insurance will likely exclude coverage for problems that could have been discovered by the survey.

Can i get title insurance without a survey. However the purchaser of the property is only provided survey coverage if they have a boundary survey performed on the property prior to closing. Even when a survey is not required as in the purchase of a strata lot lenders may require title insurance. The purpose of the Standard Exceptions is to limit the liability of the title insurer for matters that are not disclosed in the public record or matters that would be shown by a survey or inspection of the premises.

In some cases endorsements can help further protect your clients investment. The general survey exception excepts from the policy any state of facts that an accurate survey and inspection of the land would show. Nothing can replace a survey or provide as much information to the property owner about the extent of the title and it could save thousands of dollars of trouble down the road title insurance or not.

This is not covered in a standard Owners Policy of Title Insurance OTP. It is acceptable to most lenders as an alternative to a survey or Real Property Report RPR. This is an exception that the title insurance company includes in a policy if there is no satisfactory survey of the real property described in the policy.

A general survey exception. Some title insurers may even delete the Survey Exception from the title commitment for an ALTA Loan Policy or issue an endorsement to the Loan Policy effectively deleting the Survey Exception without a survey but these requirements vary depending on the jurisdiction and the lender or its counsel should consult with the title insurer directly to weigh the risks and determine if this is a reasonable option. If there IS an existing survey the same surveyor has the data in his files usually on a computer now and can easily reprint the map certifying the drawing to you your lender and title insurance company in the title block on the map.

Even in cases where an existing survey does exist there is no guaranty that it represents the state of the property at the time of the transaction. Most policies offer protection for an adverse circumstance that would have been revealed by an up to date survey such as an encroachment except for boundary walls or fences. Title insurance is often cheaper than obtaining a survey on a single family residence but it generally only applies to the mortgage being insured.

If these requirements are met the title company should be able to use the survey to insure the transaction. Do not buy a house assuming that a land survey is part of the package. Title Insurance will not cover Survey related problems.