Real estate title glossary
What is schedule B exceptions?
Definition
Schedule B of a title commitment lists the exceptions the title policy will not cover and the requirements that must be met before it is issued.
Typical exceptions are recorded easements, CC&Rs, survey matters and taxes not yet due; typical requirements are paying off open mortgages and recording releases.
How it shows up in a title search
The exceptions come from the title search; anything the search finds and the closing does not clear stays on Schedule B.
Guides that go deeper
- Title Commitment: What It Is, How to Read It, and How It Differs From a Title SearchA title commitment is an insurer's offer to issue a title policy once requirements are met. How to read its exceptions and how it differs from a title search.
- Owner's Title Insurance Policy: What It Covers, What It Excludes, and How Long It LastsAn owner's title insurance policy covers past title defects for a one-time premium. See what it covers, what it excludes, and a Texas premium example.
- Lender's Title Insurance: What It Covers, Who Pays and Why It Is RequiredLender's title insurance protects the mortgage lender, not you. See what it covers, who pays, and how one state prices it ($100 when issued with an owner's policy).
Related terms
Source: Legal Information Institute, Wex: title insurance. Plain-English summary of general US usage; state law varies, and this is not legal advice.