Nine exceptions on my title commitment. Which ones matter?
First purchase, a small house I plan to live in for a few years and keep as a rental after. The commitment came through yesterday and section two has nine numbered exceptions. Some are obviously boilerplate, taxes not yet due, rights of parties in possession. A few I don't understand at all, including a utility easement recorded in 1961 and something about a restriction from a subdivision plat.
My agent said not to worry about it and that everyone's commitment looks like this. That may be true and it isn't an answer I can use, because I don't know what I'd be worrying about if I did worry.
What I think I understand. Exceptions are things the policy will not cover. So the more items on that list, the less my policy actually does. What I don't understand is which of these get removed before closing, which ones I can ask to have removed, and which are simply permanent facts about the land.
Closing is in three weeks. I don't want to burn my one real ask on the wrong item.