§ 12340.11. — 12340.11. (Added by Stats. 1981, Ch. 55, Sec. 2.)

California § 12340.11.

• Jurisdiction: California
• Code INS: Insurance Code - INS
• Div. 2.: DIVISION 2. CLASSES OF INSURANCE
• Part 6.: PART 6. INSURANCE COVERING LAND
• Ch. 1.: CHAPTER 1. Title Insurance
• Art. 1.: ARTICLE 1. Definitions

Text

“Preliminary report”, “commitment”, or “binder” are reports furnished in connection with an application for title insurance and are offers to issue a title policy subject to the stated exceptions set forth in the reports and such other matters as may be incorporated by reference therein. The reports are not abstracts of title, nor are any of the rights, duties or responsibilities applicable to the preparation and issuance of an abstract of title applicable to the issuance of any report. Any such report shall not be construed as, nor constitute, a representation as to the condition of title to real property, but shall constitute a statement of the terms
and conditions upon which the issuer is willing to issue its title policy, if such offer is accepted.

Legislative History

Added by Stats. 1981, Ch. 55, Sec. 2.