New York Codes, Rules and Regulations
Title 11 - INSURANCE
Chapter II - Agents, Brokers And Adjusters
Part 35 - Title Insurance: Title Insurance Agents, Aflliated Relationships, And Required Disclosures
Section 35.7 - Other disclosures to applicants
Current through Register Vol. 46, No. 12, March 20, 2024
(a)
This report is not a title insurance policy! Please read it carefully.
The report may set forth exclusions under the title insurance policy and may not list all liens, defects, and encumbrances affecting title to the property. you should consider this information carefully.
(b) With respect to a personal property title insurance policy, a title insurance corporation shall furnish the applicant and the applicant's representative, at least three days prior to policy issuance, with a written confirmation of the proposed coverage, including any non-standard policy provisions; provided, however, that if an applicant is represented by an attorney, then a title insurance corporation shall furnish written confirmation of the proposed coverage to the applicant's attorney unless the applicant also requests the written confirmation, in which case the title insurance corporation shall furnish the written confirmation to both the applicant and the applicant's attorney.
(c) Except with respect to a refinancing application or where the applicant is represented by an attorney, if an applicant is seeking only a lender's title insurance policy, a title insurance agent shall provide to the applicant a separate written notice, which shall be signed by the applicant, at the time the title commitment or title report is prepared, and which shall explain:
(d) If no title insurance agent is used, then the title insurance corporation shall provide the report and notice and obtain the applicant's signature.