Common use of Owner’s Policy Clause in Contracts

Owner’s Policy. It shall be a condition to Closing that the Title Company shall be irrevocably and unconditionally committed to issue to Buyer effective as of the date and time the Deed is recorded an ALTA Owner’s Policy of Title Insurance, subject only to the Permitted Encumbrances, insuring Buyer’s fee simple title to the Property, in the full amount of the Purchase Price (the “Owner’s Policy”).

Owner’s Policy. It shall be As a condition to Closing that Closing, the Title Company shall be irrevocably and unconditionally committed to issue to Buyer effective as of the date and time the Deed is recorded an ALTA Owner’s Policy of Title InsuranceInsurance in the amount of the Purchase Price, insuring fee simple title to the Real Property, and the Appurtenances in Buyer, subject only to the Permitted Encumbrances, insuring Buyer’s fee simple title to the Property, in the full amount of the Purchase Price Exceptions (the “Owner’s Title Policy”).