FIRST AMERICAN TITLE -2015 - Laserfiche WebLink

Home Browse Search

GENERAL INFORMATION THIS SCHEDULE OF FEES SHALL NOT BE CONSTRUED AS ESTABLISHING OR CHANGING THE RULES AND PROCEDURES PERTAINING TO THE PRACTICES FOLLOWED BY THE COMPANY. THE RATES CONTAINED IN THIS SCHEDULE OF FEES ARE APPLICABLE ONLY TO THE PRODUCTS AND SERVICES PROVIDED FOR HEREIN, DEFINITIONS • ALTA: American Land Title Association. • Basic Escrow Services; See Definition In Section C-E + Binder: See Section C-3.4 • CLTA: California Land Tide Association, • Commitment ALTA Plain Language Commitment or ALTA Commitment • Company: First American Title Insurance Company and Its authorized agents. • Fair Value: The Fair Value Is the sale price, except that where no sale is Involved, the Fair Value is determined based on available information, but in no event Is less then the sum of all the monetary encumbrances to which the title Is subject. The Company will not Issue title Insurance for less than the Fair Value of the estate or Interest to be Insured or for more than the Fair Value of the estate or Interest to be Insured without approval from PATICO's underwriting department, except that: 1. An Owner's Policy Issued in connection with the purchase of the subject property may be Issued in the amount of the purchase price or the contemplated value of the land with planned improvements; and 2. Where undivided interests in a property are being conveyed or encumbered, a policy may be issued describing such undivided interests and charged for based upon the value of such undivided Interests. • FATICO: First American Title Insurance Company. • Loan Policy: A policy Insuring a lender or assignee of a lender, • Multiple Loan Policies: See subsection C-C-4. • Owner's Policy: A Polity Insuring an owner, optlonee, vendee, or lessee. For the purposes of this commercial Schedule, Owner's Polity does not include an Eagle Owner's Policy as defined in Part I, Residential Schedule of Fees. RED (Real Estate Owned): Property currently owned by a lender (or the lender's affiliate, Investor or insurer) that acquired the property through a foreclosure sale or a deed in lieu of foreclosure, The lender's "affiliate" Is any person or entity that directly or Indirectly controls, Is controlled by, or is under common control with the lender, • Leasehold Policy: Any form of policy where the estate of Interest Insured Is a leasehold estate. 92 0 2014 First American Title Insurance Company. All rights reserved. November 10, 2014