Good Fortune Company purchases land improved with a building and buys an owner’s title insurance policy in connection with the purchase. The policy is a standard policy with no special endorsements. When Good Fortune applies for a permit to open a restaurant, they are told by the city that the property does not have adequate parking under the zoning ordinance to be used as a restaurant. Does Good Fortune have any valid claim against the title insurance company because of this issue?
Fill in the blank(s) with the appropriate word(s).
Good Fortune does not have a valid claim against the title insurance company. The risks posed by zoning and government regulations are items not insured against in an owner’s title insurance policy. An owner can get some protection by purchasing a zoning endorsement. The example states that no special endorsements were purchased.
You might also like to view...
A notary public is not required to sign a will to ensure its ____________.
Fill in the blank(s) with the appropriate word(s).
Ethical rules for legal professionals are found in the
A. Assimilative Crimes Act B. Attorney General opinions C. Model Rules of Professional Responsibility D. Model Penal Code & Commentaries
There are ninety-four ________ courts in the United States which are the federal trial courts
Fill in the blank(s) with correct word
A child might have a cause of action for alienation of affection against the driver of the car who hit the child's parent
Indicate whether the statement is true or false