On the typical TREC 1-4 family contract, Section 6.A.(8) says
The standard printed exception as to discrepancies, conflicts, shortages in area or boundary lines, encroachments or protrusions, or overlapping improvements:
(i) will not be amended or deleted from the title policy; or
(ii) will be amended to read, "shortages in area" at the expense of Buyer or Seller
Choosing (ii) gives the buyer extra title coverage at very little expense.
I am on my 3rd legitimate title claim. This one and the 2nd were only claims because I bought this coverage. My realtor almost talked me out of it because the house was constructed in 1950 and had changed hands so many times without title problems.
I suggest realtors rethink this coverage.
The standard printed exception as to discrepancies, conflicts, shortages in area or boundary lines, encroachments or protrusions, or overlapping improvements:
(i) will not be amended or deleted from the title policy; or
(ii) will be amended to read, "shortages in area" at the expense of Buyer or Seller
Choosing (ii) gives the buyer extra title coverage at very little expense.
I am on my 3rd legitimate title claim. This one and the 2nd were only claims because I bought this coverage. My realtor almost talked me out of it because the house was constructed in 1950 and had changed hands so many times without title problems.
I suggest realtors rethink this coverage.