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Marc Rovner
Introduction
Based in East Rockaway, New York, Marc Rovner is an attorney focused on
real estate title insurance. Attorney Marc Rovner has a particular focus on
indemnity insurance and property title defects, and has taught continuing
legal education classes in the area of title insurance.
As detailed in an American Bar Association article, title insurance
protects the insured party only as far as covered title defects go. In cases
where such a defect has been resolved by the insurer, there is no further
obligation or compensation due to the insured for that issue.
In Golden First Mortgage Corp. v. Alleyne, an owner obtained title and
mortgage on a property, but the mortgage and deed were somehow not
recorded. Upon ascertaining this, the lender initiated an action to have
an equitable mortgage placed on the property, or, if necessary, have the
seller draw up a replacement deed. After being recorded, the insured
owner/borrower would be able to execute a replacement mortgage.
The owner went a different route than filing a claim for coverage with the
insurer, and instead filed a third-party complaint, seeking damages from
the title insurer for failure to receive good title on the property.
Ultimately, the court decided that a new mortgage and deed should be
recorded as a way of remediating the title defect.
The court agreed with the title insurer that this new deed cured the
defect in the owner’s title, as title insurance only indemnifies
(compensates for harm or loss) against diminished property value from
title defects, and doesn’t cover consequential damages. In other words,
once the title insurer establishes that the owner-insured has title over
the property, there isn’t any further obligation to pay for losses under the
policy.

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Establishing Insured’s Title Satisfies the Title Insurer’s Duty

  • 2. Introduction Based in East Rockaway, New York, Marc Rovner is an attorney focused on real estate title insurance. Attorney Marc Rovner has a particular focus on indemnity insurance and property title defects, and has taught continuing legal education classes in the area of title insurance.
  • 3. As detailed in an American Bar Association article, title insurance protects the insured party only as far as covered title defects go. In cases where such a defect has been resolved by the insurer, there is no further obligation or compensation due to the insured for that issue.
  • 4. In Golden First Mortgage Corp. v. Alleyne, an owner obtained title and mortgage on a property, but the mortgage and deed were somehow not recorded. Upon ascertaining this, the lender initiated an action to have an equitable mortgage placed on the property, or, if necessary, have the seller draw up a replacement deed. After being recorded, the insured owner/borrower would be able to execute a replacement mortgage.
  • 5. The owner went a different route than filing a claim for coverage with the insurer, and instead filed a third-party complaint, seeking damages from the title insurer for failure to receive good title on the property. Ultimately, the court decided that a new mortgage and deed should be recorded as a way of remediating the title defect.
  • 6. The court agreed with the title insurer that this new deed cured the defect in the owner’s title, as title insurance only indemnifies (compensates for harm or loss) against diminished property value from title defects, and doesn’t cover consequential damages. In other words, once the title insurer establishes that the owner-insured has title over the property, there isn’t any further obligation to pay for losses under the policy.