73 VA – ALTA COMMITMENT FOR TITLE INSURANCE CHICAGO TITLE NCS DC | MD CHICAGO TITLE INSURANCE COMPANY COMMITMENT NO. SampleVAACC SCHEDULE B, PART I - Requirements (continued) This page is only a part of a 2021 ALTA® Commitment for Title Insurance issued by Chicago Title Insurance Company. This Commitment is not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I-Requirements; Schedule B, Part II-Exceptions; and a counter-signature by the Company or its issuing agent that may be in electronic form. Copyright American Land Title Association. All rights reserved. The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association. ALTA Commitment for Title Insurance w-VA Mod (07/01/2021) Printed: 11.09.23 @ 06:14 PM Page 6 DC-CT-FA61-02100.141018-SPS-1-23-SampleVAACC Note: This Commitment is subject to such additional exceptions as may appear upon review of said documentation. 12. All current owners of the property must execute and deliver to the Company an owner’s affidavit which in the Company’s judgment are sufficient in both form and content to identify: A. rights or claims of parties in possession not shown by the public records; B. easements, or claims of easements, not shown by the public records; or C. the occurrence of any event which could give rise to any lien, or right to a lien, for services, labor, or material furnished, imposed by law and not shown by the public records. Matters disclosed by the affidavits which in the Company’s judgment constitute defects in title to the property will be shown as exceptions to coverage under the proposed policy, replacing the general exceptions currently shown on this Commitment in Schedule B, Section II, Paragraph No. A and B. 13. In the event the subject transaction is a sale requiring the filing of a VIRGINIA NONRESIDENT REAL PROPERTY OWNER REGISTRATION or an EXEMPTION form, the forms are attached for completion and return to the Company. (R-5 Forms) 14. Note: This Commitment for Title Insurance does NOT constitute a report of title and is not to be relied upon by the proposed insured(s) or any other party as a title report or representation of the status of title. Any title search and examination conducted by or for the Company in connection with the issuance of this Commitment for Title Insurance, if any, is solely for the benefit of the Company. The sole liability of the Company and / or its issuing agent hereunder shall be as set forth in the Conditions of this Commitment for Title Insurance. Neither the Company nor its issuing agent shall be liable to the proposed insured(s) or any other party for any claim of alleged negligence, negligent misrepresentation, or any other cause of action in tort in connection with this Commitment for Title Insurance. 15. Note: Any documents being executed and insured in conjunction with this transaction must be conducted under the supervision of an attorney actively licensed in the state where the signings take place, signed in the presence of an authorized Company employee, an authorized employee of an agent, an authorized employee of the insured lender, or by using Bancserv or other approved third-party service. If these requirements cannot be met, please call the company at the number provided in this Report/Commitment. 16. In the event the subject transaction is a sale, the Company requires completion and return of a Form 1099-S, by the Seller. 17. Click this link to view the Fidelity National Financial, Inc. Privacy Statement. 18. The Proposed Policy Amount(s) must be increased to the full value of the estate or interest being insured and any additional premium must be paid at that time. An Owner’s policy should reflect the purchase price or fair market value of the Land. A Loan Policy should reflect the loan amount or value of the property as collateral. A Loan Policy cannot be issued for less than the full principal debt secured; however, it may be Chicago Title NCS DC l MD Page 101
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