| Date
Issued |
The
date the title commitment or title certificate is issued. |
| Date
Received |
The
date that the records in the county courthouse are current to. The difference between
the Date Issued and the Effective Date is known as the “Gap.”
This is the time frame in which the records are not available. Metro Atlanta Counties
will have larger Gaps than outer counties. |
| Item
1 |
Shows
the type of policy to be issued and the amount of policy. |
| Item
2 |
How
the land is held by the current owner. |
| Item
3 |
The
name of the person or organization that owns the property. |
| Item
4 |
The
legal description of the property. |
|
Schedule
B-I
|
| Items
1-3 |
Conditions
that must be satisfied for a title policy to be issued.
|
| Item
4 |
Documents
that must be executed in order to transfer title or encumber
the property. |
| Item
5 |
Encumbrances
that must be paid and released of record. |
|
Schedule
B-II
Items
listed on Schedule B-II are exceptions to the title policy. The title policy will
not cover claims, which may derive from these exceptions.
|
| Items |
Standard
exceptions required by the title insurance companies. |
| Item |
Taxes
due in the year the property is being conveyed as well as future
years would not be covered by the policy. Taxes for prior years
may or may not be covered depending on the individual circumstances.
|
| Item |
Easements
generally for the purpose of installing, maintaining and removing
utilities. Easements
will generally appear for utility companies, rights of way,
ingress and egress, etc. The easements will run
with the land. |
| Item |
Protective
Covenants that are filed against the land.
Protective Covenants will disclose if there is a mandatory
homeowners association, which may or may not require mandatory
dues. Also, the covenants
may control items such as the size and style of house, landscaping,
as well as other matters, which would be in keeping with the
general appearance of the subdivision. |
| Item |
The
plat exception will show what types of building lines may be
present. The building
line is the distance required from the structure to the property
line. |
