Title commitments contain a lot of “exceptions”, which basically means something your title insurance will not cover. There are seven standard exceptions, some of which can be deleted. To “delete” an exception means that the insurance must cover that issue – actually increasing your insurance coverage. In Santa Fe, buyers frequently ask for exceptions one through four to be deleted. Increasing your coverage provides more peace of mind, though it does come at a cost. You’ll need to weigh the factors in your home purchase to determine what, if anything, you’d like to delete.
Below is a discussion of the reasons for, effect of, and requirements to delete each exception.
This policy does not insure against loss or damage,…
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