7 Pa. Code § 138e.68 - Title insurance
(a) The
county board shall provide the following to the State Board upon submission of
its recommendation for the purchase of an easement:
(1) A title insurance commitment.
(2) Copies of all recorded or unrecorded
documents listed on the title insurance commitment as exceptions to the title
insurance policy.
(b) At
settlement, the county board shall provide a title insurance policy issued by a
title insurance company authorized to conduct business in this Commonwealth by
the Insurance Department. A marked up title commitment may serve as a policy
until the final policy is issued. The amount of title insurance coverage shall
equal or exceed the higher of the following amounts:
(1) The difference between the appraised
market value and the appraised farmland value, as described in §
138e.65(a)
(relating to easement value and purchase price).
(2) The difference between the agricultural
value and the nonagricultural value, as described in §
138e.66(c)(3)
(relating to offer of purchase by county board), if the values are used to
calculate the easement value.
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