What Is A Gap Indemnity Agreement

This blog post was written by Brian Memory and Caleb Rush, attorneys in the office of Spencer Fane LLP Plano, TX. For more information, see spencerfane.com. Our assessment of the above issues and related recommendations can be found below. This memorandum relates to some of the changes we are seeing in the title insurance industry as a result of COVID-19. While issues and impacts may vary slightly from county to county and title company to title company, this memorandum addresses the following three (3) recurring concerns: “The Company reserves the right, before and after closing, to provide exemptions and requirements for the issuance of one or more securities policies based on the details of the transaction, the review of closing documents, to be done. and changes in document and title search capabilities resulting from the impact of the COVID-19 pandemic and the closure of trade and government offices. Please note that the impact of COVID-19 on title insurance matters is changing rapidly. The recommendations contained in this document are of a general nature and may require a change on a transaction-by-transaction basis as the impact of COVID-19 on title insurance continues to evolve. .

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