Title policy exception
A specific risk the title insurer refuses to cover.
Exceptions can be standard (matters a survey would reveal, rights of parties in possession) or specific (a named utility easement recorded at a stated book and page).
Some standard exceptions can be removed by delivering a current survey or an owner's affidavit.
Why it matters when you buy
Every exception is a risk that shifts from the insurer back to you.
Related terms
General educational reference only. Prescription periods and their exceptions change, and several states set the period by case law rather than by statute. Read the linked official code and consult a licensed attorney in that state before relying on any of it.
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