My materials want an opinion on title and the practice set wants insurance
Chapter walks through every search you are meant to run and then signing off on title. Half the questions I did tonight treat insurance as the normal answer instead. Am I meant to be applying one of those or both?
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Both, and they answer different questions.
The searches and the sign off are what you owe the client. That duty does not go away because a policy exists, and a question about what you failed to do is testing it.
Insurance covers a defect somebody carries anyway. It does not perform a search for you and it does not decide whether you were careless.
So read for which one the question is about. Did the solicitor miss something is one subject. Who bears a loss nobody could have found is another.
that split is clearer than anything in my notes. missed something versus bears a loss.
Keep requisitions in that picture too. There is a date by which objections have to go in, and after it a buyer is in a much worse position regardless of what any policy says. Questions like that date.
is the requisition date set by the rules or by whatever the agreement says?
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