Title Insurance Blanket Exceptions Banned in Wisconsin

No risk to the insurer title policy. It’s a pretty good gig if you can get (away with) it, title insurance with a blanket exception costs the same as title insurance that might cover something.

Tom Larson, VP of Legal and Public Affairs for the Wisconsin Realtors Association reports in the August 2014 Edition of the Wisconsin Real Estate Magazine a ban on Blanket Exceptions in Title Insurance.

The kind of blanket exception we see in Title Insurance Policies effectively limit the liability of the Insurance Company and leave the property owners and lenders at risk. The blanket exception is vague enough to leave the coverage open to interpretation of the attorneys representing the title company and the folks who though they had insurance.

Read Tom Larson’s Article Keeping Them Honest.   The Wisconsin Office of Commissioner of Insurance issued a bulletin prohibiting the blanket exception practice.

Author: Tom Meyer Real Estate Broker, Madison, WI

I believe every every Offer to Purchase can present the unique ability of the person the contract is written for. The person who is most compelled to be cooperative, most qualified, most sincere, most committed, least risk adverse, can have an Offer drafted to show their true ability and commitment. Home sellers are likely to look favorably upon those offers which give them the most comfort. Licensees who know how to craft Offers as unique as the individual buyer are worth their weight in gold.

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