Informational reports are not insurance products and there are no insurance claim reserves for informational reports. The informational report, when issued, will contain the following disclaimer and limitation of liability:
"This informational report is neither a commitment to insure title nor an opinion as to the marketability of title. Thomson-Affinity Title, LLC (hereinafter referred to as "the Company") is not liable for items not indexed or misindexed or for matters that would be disclosed by an accurate survey or inspection of the land. The Company is not liable for searching and reporting upon all of the land that the applicant may have intended to have been searched if the applicant did not submit in its application the land description shown in Schedule A of this informational report (but rather, for example, submitted an address or a partial description instead of the complete and exact land description of the land that the customer intended to have been searched). The total liability under this informational report shall not exceed the price paid for it. The scope of the search upon which this informational report is based does not extend beyond, and is limited to:
-
documents effectively and properly recorded in the chain of title to the land in the office of the Recorder of Deeds/Register of Deeds for the county in which the land is located,
-
the publicly posted real estate tax records for the land,
-
public records of the state circuit court/state district court for the county in which the land is located, and of the United States district court, if any, seated in the county in which the land is located.
The scope of the search upon which this informational report is based does not include, and this informational report does not cover, any of the above mentioned records occurring after the effective date of this informational report.
The scope of the search upon which this informational report is based does not include, and this informational report does not cover, any of the above mentioned public court records that are not properly indexed and displayed in the publicly posted electronic records of said courts prior to the effective date of this informational report, even though these not-included and not-covered records may pertain to judgment liens or to litigation that are effective prior to the effective date of this informational report.
Liability under this informational report shall only be to the applicant for this informational report and to said applicant's client for whose benefit this informational report was ordered. All liability under this informational report shall cease and terminate 120 days after the Effective Date of this informational report."
