Where are exceptions generally listed on a title policy?

Prepare for the Michigan State Title Insurance Exam. Enhance your study with flashcards and multiple-choice questions. Understand questions with detailed hints and explanations. Ace your exam!

In a title insurance policy, exceptions to coverage are generally found in Schedule B. Schedule B outlines specific exceptions to the title insurance coverage, detailing various items that may affect the ownership of the property and are not covered by the policy. This can include things like easements, liens, or restrictions that are disclosed in the title search but are not subject to the title insurer's guarantee of clear ownership.

Schedule A typically contains the standard information about the insured, the property, and the policy itself, while Schedule C is often where additional information or clarifications may be included, but it does not list exceptions. The Exclusion Section also contains items that the policy does not cover, but it does not specifically enumerate the exceptions that are acknowledged in Schedule B. Understanding the structure of the title policy is crucial for navigating potential risks associated with real estate transactions.

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