What is covered on Schedule B of a title insurance policy?

Schedule B of a title insurance policy is designed to outline specific requirements and exceptions that apply to the coverage provided by the policy. This section is crucial because it indicates any potential issues or obligations that the insured party must address in order to ensure full protection under the policy.

Requirements might include actions that the insured must take, such as satisfying liens or obtaining certain permits. Exceptions refer to situations or matters that are not covered by the policy and can include existing easements, rights of way, or any claims that might affect the property's title. By clearly outlining these points, Schedule B helps the policyholder understand the limitations of their coverage and the obligations they must meet to maintain their title insurance.

Other options, such as legal descriptions and maps, are generally included in the policy but are more relevant for defining the covered property rather than detailing exclusions and requirements. Similarly, property inspections and surveys, as well as future liabilities and encroachments, may be considered during the title search or evaluation process but do not directly pertain to the specific focus of Schedule B in managing title issues and obligations.