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Arizona Supreme Court Holds a Credit Bid at a Trustee’s Sale Should Not be Credited to a Title Insurer Under a Standard Lender’s Title Policy To the Extent the Bid Exceeds the Collateral’s Fair Market Value

By:  Richard H. Herold The Arizona Supreme Court recently addressed what impact, if any, a lender’s credit bid at an Arizona trustee’s sale has on an insurer’s liability under Sections 2, 7 and 9 of the standard’s lender’s title policy (“Policy”), holding in Equity Income Partners, LP v. Chicago Title Insurance Company, 241 Ariz. 334, […]

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RH
Former Partner

Lender’s Title Insurance: When Should Courts Measure the Fair Market Value of Property Affected by a Title Defect?*

By:  Andy Stone Title insurance is designed to pay for damages caused by any defects to title that the title company should have discovered but did not.  Lender’s title insurance protects lenders who lose money due to a title defect, which is distinguished from an owner’s policy that protects the property owners.  How to calculate […]

AS
Former Associate