Basic overview of the four sections of the Commitment for Title Insurance

  

In general, a title commitment is a commitment by the title company to insure the sale of the property and issue a title policy if conditions in the commitment are met. 

Schedule A

Schedule B

Schedule B

  

“A” is for “Actual Facts” In other words, this is the “Who, What, Where and How Much” of the transaction. You’ll see the names of the seller and buyer, a description of the property, the sales price, and the name of the lender if any.

Schedule B

Schedule B

Schedule B

  

“B” is for “Buyer Notification” of areas where other parties have some interest or control of the use of property. An example would be a utility easement, where the city would have a part of the land reserved for their use, or a building setback requirement that prevents the homeowner from building within a certain distance from the front of the property. These items are not covered.

Schedule C

Schedule C

Schedule C

  

“C” is for “Clear to Close” These items must be resolved in order to transfer title to the new owner. This would include such things as a mortgage to be paid off, marital status, home improvement liens, unpaid taxes, or a requirement that another person - such as an heir or a former spouse - participate in the sale of the property.

Schedule D

Schedule C

Schedule C

  

“D” is for “Disclosure” This last section outlines all parties who will collect any part of the insurance premium, including underwriters, title agents and attorneys.