Title Company
_________________, TENNESSEE
NOTICE AND WAIVER
RE:
Property Description
Pursuant to Tennessee Code Annotated Section 56-35-133, notice is hereby given to you that you, as the purchaser(s) of the real estate identified above, may obtain a policy of owner's title insurance which will afford to you title insurance protection in the event of a defect or claim of defect in title to the real estate you are acquiring (such as unpaid bills for labor and materials, forgery, missing heirs, or tax liens). You may purchase title insurance in the amount of your purchase price (or for the amount of your purchase price plus the cost of any improvements which you anticipate making).
Tennessee Code Annotated Section 56-35-133 requires that your sign the statement below to acknowledge that you have received this Notice, and to indicate whether you desire to purchase owner's title insurance.
________________________________________
(Name of Settlement Agent or Company)
I/We elect
to purchase owner's title insurance in the amount of $________.
I/We elect
not to purchase owner's title insurance.
**OR**
A policy of owner's title insurance in the amount of $____________ is being provided to me/us with the cost paid by others.
If I/We have elected not to purchase owner's title insurance for my/our protection and no such policy is being provided to me/us with the cost paid by others, I/We acknowledge that shall have no responsibility to me/us for the status of the title to the real estate I/We am/are acquiring.
________________ (Date)
___________________________________ (Signature of Purchaser)
___________________________________ (Signature of Purchaser)