Taxes, Real Property
Underwriting Manuals
- 5.32 Extended Coverage
- 15.60 Public Improvement Districts
- 19.00 Tax Titles
- 19.04 Taxes And Assessments
- 20.20 Urban Renewal Areas
Standard Exceptions
- No references available.
Bulletins
- No references available.
Forms
- No references available.
Table of Contents
TAX
Taxes, Real Property
The Company generally does not insure tax titles unless a judicial foreclosure occurred and the owner and foreclosed lienholders were personally served, or unless you also secure a deed from the owner and release from such foreclosed lienholders. You must confirm that all taxes and assessments that are liens on the land are satisfied or excepted (by general or specific exception).
Exceptions
TAXX01
ALTA
10/20/2011
V
2
Additional Taxes Because of Improvements
Any possible additional tax assessment and any penalties and interest, because of construction and improvements.
Comment: If improvements have not been properly included in the current or prior years' assessments, you should add this exception.
Comment: If improvements have not been properly included in the current or prior years' assessments, you should add this exception.
See Underwriting Manual
TAXX02
ALTA
10/20/2011
V
2
Subsequent Taxes Because of Change in Use
Subsequent assessments or taxes and any penalties and interest, due to any change in the land usage or loss of exemption.
Comment: You should use this exception if the land has been allowed special taxation or exemption and a change in use would cause retroactive assessments.
Comment: You should use this exception if the land has been allowed special taxation or exemption and a change in use would cause retroactive assessments.
See Underwriting Manual
TAXX03
ALTA
10/20/2011
V
2
Retroactive Taxes
Retroactive assessments for taxes against the Land, and all interest and penalties that may accrue.
Comment: You should use this exception if the land (or improvements) or a portion of the land (e.g., an abandoned road) has not been included in tax assessments.
Comment: You should use this exception if the land (or improvements) or a portion of the land (e.g., an abandoned road) has not been included in tax assessments.
See Underwriting Manual
TAXX04
ALTA
10/20/2011
V
2
Taxes for Calendar Year
Taxes and assessments for the year(s) _______ plus any penalties and interest that may accrue.
Comment: You may use this exception for taxes assessed for a calendar year.
Comment: You may use this exception for taxes assessed for a calendar year.
See Underwriting Manual
TAXX05
ALTA
10/20/2011
V
2
Taxes For Fiscal Year
Taxes and assessments for the fiscal year ending _______, plus any penalties and interest that may accrue.
Comment: You may use this exception for taxes assessed for a fiscal year.
Comment: You may use this exception for taxes assessed for a fiscal year.
See Underwriting Manual
TAXX06
ALTA
10/20/2011
V
2
Taxes Paid Through Quarter
Lien for ____________ taxes and any penalties and interest. Taxes paid through _______ quarter.
Comment: You may use this exception to insure payment of taxes through a stated quarter.
Note: You may add additional local exceptions here. Please consult with our underwriting personnel in preparing appropriate provisions.
Comment: You may use this exception to insure payment of taxes through a stated quarter.
Note: You may add additional local exceptions here. Please consult with our underwriting personnel in preparing appropriate provisions.
See Underwriting Manual
TAXX07
ALTA
10/20/2011
V
2
Real Estate Taxes and Assessments-Due or Payable but Unpaid
Real estate taxes or special assessments imposed on the Title for the year(s) ___________, that are due or payable, but unpaid.
TAXX08
ALTA
10/20/2011
V
2
Real Estate Taxes or Assessments-Not Yet Due or Payable
Real estate taxes or special assessments for the year(s) _____________, that are not yet due or payable.