Record Title
Underwriting Manuals
Standard Exceptions
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Bulletins
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Forms
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Table of Contents
RCT
Record Title
There are four types of recording statutes: race, grace, race-notice, and notice. You should not assume that a matter has priority solely because it is recorded first.
Exceptions
RCTX01
STG
12/01/1995
V
2
Instrument not Recorded
Any claim because of the failure to record that _________ in accordance with applicable law.
Comment: If the insureds do not want to record the insured deed or mortgage, or to secure a recordable lease or memorandum of (insured) lease acknowledged by the lessor, you should call the Company. If the Company issues, it will use this exception. If a deed in the recent chain is not properly of record, you should also use this exception.
Comment: If the insureds do not want to record the insured deed or mortgage, or to secure a recordable lease or memorandum of (insured) lease acknowledged by the lessor, you should call the Company. If the Company issues, it will use this exception. If a deed in the recent chain is not properly of record, you should also use this exception.
See Underwriting Manual
RCTX02
STG
12/01/1995
V
2
Delayed Recording
Any claim that the transaction vesting in the insured the estate or interest insured is a voidable preference because of a delay in recordation of the vesting instrument.
Comment: If there is a delay of more than 20 days in recording the vesting instrument, you must add this exception unless you issue the 1990 Policy. The 1990 Policy contains a broad creditors’ rights exclusion. The 1992 Policy contains a narrower creditors’ rights exclusion that does not apply to voidable preferences arising out of delayed recording. The 1970 Policy contains no creditors’ rights exclusion; this exception must be added to that Policy if there is a delayed recording.
Comment: If there is a delay of more than 20 days in recording the vesting instrument, you must add this exception unless you issue the 1990 Policy. The 1990 Policy contains a broad creditors’ rights exclusion. The 1992 Policy contains a narrower creditors’ rights exclusion that does not apply to voidable preferences arising out of delayed recording. The 1970 Policy contains no creditors’ rights exclusion; this exception must be added to that Policy if there is a delayed recording.