For most people, your home is the single largest financial investment you will ever make. Consequently, obtaining a Residential Owner’s Policy of Title Insurance (Residential Owner’s Policy) protects your largest investment. At Patten Title Company we strive to provide our customers with the necessary information to make informed decisions about their Residential Owner’s Policy. When you received your Commitment for Title Insurance you also received a form asking if you would like to purchase additional coverages that enhance the standard coverage of your Residential Owner’s Policy.

Your standard Residential Owner’s Policy will contain the following exception to coverage: “Any discrepancies, conflicts, or shortages in area or boundary lines, or any encroachments or protrusions, or any overlapping of improvements.” If you purchase this enhanced coverage the paragraph above will be amended to read as follows: “Shortages in area.” Consequently, if you purchase the enhanced coverage you will be insured for loss, costs, and attorney’s fees and expenses resulting from discrepancies, conflicts in boundary lines, encroachment, protrusions, or overlapping of improvements not shown on your survey and not known at the time of closing.

If you purchase this enhanced coverage the endorsement shown in the T-19.1 link provided will be attached to, and become part of your Residential Owner’s Policy. Please read the endorsement for the best understanding of the coverage. Amongst other covered matters, and unless otherwise deleted, the T-19.1 endorsement provides additional coverage for the following:

Unknown violations of enforceable restrictive covenants existing as of the date of your Residential Owner’s Policy.

Encroachments of your improvements onto neighboring land or your neighbor’s improvements encroaching onto your land which are not shown on your survey.

Certain damages to the surface of your land resulting from the extraction or development of minerals.

• The Amendment to Area and Boundary Exception is 5% of your basic title insurance premium, but not less than $50.00.
• The Restriction, Encroachment, and Minerals Endorsement (T-19.1) is 10% of your basic title insurance premium if purchased alone, but not less than $50.00.
• If BOTH coverages are purchased then the cost of the Restriction, Encroachment, and Mineral Endorsement is reduced to only 5% of your basic title insurance premium. This results in you receiving both coverages for the price of one.
• Remember the charges for the additional coverage are one-time-only fees that are collected at closing. If purchased, the additional coverage lasts for as long as you, or your heirs, own your home – whether that is 5 years or 105 years.

A satisfactory survey of the property is necessary to obtain the enhanced coverages discussed above. After receipt of the survey, the Underwriter may make specific exceptions in your Residential Owner’s Policy to matters shown on the survey or delete certain provisions of the T-19.1. Consequently, it is important to understand that you will not have additional coverages for matters reflected on your current survey or matters known at the time of closing.