STANDARD EXCEPTIONS FOR THE ALTA LOAN POLICY (ONE-TO-FOUR FAMILY RESIDENTIAL)

The ALTA Standard Exceptions are suggested for use in one-to-four family residences. The Standard Exceptions are intended to facilitate the electronic transmission of title insurance policies. The Standard Exceptions are also intended to promote a prompt and efficient review of the Schedule B Exceptions from Coverage by lenders.

The suggested ALTA Loan Policy Standard Exceptions relate to residential transactions and matters that are commonly excepted from coverage in Schedule B. A title company using the suggested Standard Exceptions will be able to expedite the lender?s policy review. As lenders become familiar with their text or unique coding, the suggested Standard Exceptions will be readily distinguished from other exceptions peculiar to the title examined. The lender may be able to recognize Standard Exceptions by the text or by the suggested ALTA coding.

The Exception Topics (for example, ACCESS) are matters for which Standard Exceptions have been prepared.

The Exception Code (for example, ACCX01 ALTA under ACCESS) consists of:

(1) A three-letter abbreviation referring to the topic of the Exception (for example, "ACC" in ACCX01 ALTA, identifies the Topic of ACCESS).

(2) A letter identifying the use of the suggested Standard provision (for example, "X" in ACCX01 ALTA identifies this provision as a Schedule B Exception). Companies may develop provisions for Schedule A and/or Requirements sections of the Policy and/or Commitment which are identified by a different letter. The ALTA has not prepared suggested provisions for Schedule A or Requirements.

(3) A two-digit number identifying the particular exception relating to the topic (for example, "01" in ACCX01 ALTA).

(4) A space and an abbreviation after the exception (for example, "ALTA" in ACCX01 ALTA) identifies the exception as being ALTA specific.

Exception Headings (for example, "Complete Lack of a Right of Access" following the Exception Code "ACCX01 ALTA") identifies the specific situation covered by the suggested Standard Exception. The Heading is not a part of the Exception.

The suggested Standard Exception appears immediately below the Exception heading (for example, "Lack of a right of access to and from the land." under ACCX01 ALTA).

The Wetlands Standard Exceptions will be completed and included in the ALTA Standard Exceptions at a later date.

These suggested ALTA Loan Policy Standard Exceptions are not designed for use in commercial transactions or for use on Owner?s Policies; however, title companies and customers may use these Exceptions, if applicable, in those transactions.

Stewart Title Guaranty Company Standard Exceptions Manual

Stewart Title Guaranty Company standard exceptions are easily identified as follows:

The Exception Code (for example, ACCX02 STGC under ACCESS) consists of:

(1) A three-letter abbreviation referring to the topic of the Exception (for example, "ACC" in ACCX02 STGC, identifies the Topic of ACCESS).

(2) A letter identifying the use of the suggested Standard provision (for example, "X" in ACCX01 STGC identifies this provision as a Schedule B Exception). The letter "R" indicates Requirement. The letter "S" indicates Schedule A.

(3) A two-digit number identifying the particular exception relating to the topic (for example, "02" in ACCX02 STGC).

(4) A space and an abbreviation after the exception (for example, "STGC" in ACCX02 STGC) identifies the exception as being STGC specific.

Stewart Title Insurance Company - New York Standard Exceptions Manual

Stewart Title Insurance Company - New York standard exceptions are easily identified as follows:

The Exception Code (for example, ACCX10 NY under ACCESS) consists of:

(1) A three-letter abbreviation referring to the topic of the Exception (for example, "ACC" in ACCX10 NY, identifies the Topic of ACCESS).

(2) A letter identifying the use of the suggested Standard provision (for example, "X" in ACCX10 NY identifies this provision as a Schedule B Exception). The letter "R" indicates Requirement. The letter "S" indicates Schedule A. The letter "A" indicates Affirmative Insurance, while the letter "P" indicates Schedule of Parties Defendant.

(3) A two-digit number identifying the particular exception relating to the topic (for example, "10" in ACCX10 NY).

(4) A space and an abbreviation after the exception (for example, "NY" in ACCX10 NY) identifies the exception as being STIC - NY specific.