From:

Date:

To:

Re:

A lender’s policy of title insurance insuring the title to the property described above is being issued to your mortgage lender, but that policy does not provide title insurance coverage to you.

You may obtain a standard coverage or extended coverage Owner’s Policy of title insurance which would provide title insurance coverage to you. The additional cost to you for an Owner’s Policy of title insurance in the amount of $_______________ is $_________________ (standard coverage) or $_________________ (extended coverage) if you request it at this time. The value of future improvements to the property in excess of $_______________ will not be covered by the Owner’s Policy unless additional coverage is purchased.

A standard coverage owner's policy insures against someone else owning an interest in your property, any defect in or lien or encumbrance on your title, unmarketability of your title, and a lack of a right of access to and from the land. Coverage is limited by the Exclusions, Conditions and Stipulations, and Exceptions shown in the policy.

An extended coverage owner's policy is only available at purchase for owner-occupied single family dwellings. Additional coverage includes an automatic increase of coverage of 10% each year up to 150% of the original amount, violations of land use regulations (subject to a deductible and maximum), matters arising after the date of policy, actual vehicular and pedestrian access, violations of covenants and restrictions, and damage to existing improvements due to the exercise of mineral or water rights.

____ I do request a standard coverage Owner’s Policy of Title Insurance.

____ I do request an extended coverage Owner’s Policy of Title Insurance.

____ I do not request an Owner’s Policy of Title Insurance.