§14.33 - Conclusion

• Jurisdiction: Washington

§14.33 CONCLUSION

A title commitment is not an abstract of title, nor does it purport to show the status of title. It shows matters against which the insurer will not insure unless cleared to the satisfaction of the insurer or eliminated on a risk basis. It is an agreement or undertaking, based upon an examination and evaluation of the title, to issue a named type of policy on a specific date.

A title policy is a contract of indemnity subject to specified exclusions and exceptions, and issued upon...