Stewart Title Guaranty Company policy prohibits insuring square footage or acreage in the legal description of the property in Schedule A; and requires an exception to "shortages in area" in compliance with state law. When amending or deleting the survey exception, the Company recommends retaining the "shortages in area" exception in all title policies issued in unregulated states.
Our Company Policy is as follows:
- Where possible, delete all reference to the square footage or acreage of
the property in the legal description of the policy;
- If the legal description refers to acreage or square footage, add the phrase
"more or less" and verify that the policy contains an exception to "shortages
- When modifying the "survey" or "area and boundaries" exception, retain an exception to "shortages in area" where required y regulation (e.g. Texas) and in all cases, if possible.