Clarification on 1-4 Contract- Paragraph 6 A - 8 - Who typically pays for it to be amended . Would love to dive deeper into subject too for meaning.

The standard printed exception as to discrepancies, conflicts, shortages in area or boundary lines, encroachments, or protrusions, or overlapping improvements. ( ) will not be amended or deleted from the title policy; or ( ) will be amended to read "shortages in area" at the expense of ( ) Buyer ( ) Seller.
I am trying to get clarification and have talked to 2 different title companies and got different answers. My Uncle recently purchased a property in which the MLS sheet and tax office stated the land was 2.25, he also purchased a new survey. After he closed, turns out the neighbor bought a portion of the 2.25 acres he thought was his. In his contract he checked for shortages to be amended be amended thank God (or at least I think). Here is why I am confused. I watched a Remax (training) video where the instructor tells you to check not to be amended, that this is just a bogus fee that title companies have to make more money, and that the coverage is there already in the title policy itself. Then I have a title company saying, uh no, this is insurance coverage, kind of like gap insurance but specifically for shortages with regards to land. She went on to say, a title policy covers things like, "oops, there is a 20K lien we missed, "things that would be found on a title search, checking this to be amended will cover land shortagages, like, oops, the 1/2 acre at the front of the property was bought 10 years ago. Tax rolls had it at 2.25, but turns out it was 2.
(0) | asked by: Lisa Clemmons | share | 1 month ago | Report
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