D.C. Code § 31-5031.12: Direct operations and policyholder treatment.

(a)

“It is important to note that this form is not a written representation as to the condition of title and may not list all liens, defects, and encumbrances affecting title to the land.”

(b)

(1)

A title insurer issuing a lender’s title insurance policy in conjunction with a mortgage loan made simultaneously with the purchase of all or part of the owner-occupied property securing the loan, if no owner’s title insurance policy has been requested, shall give written notice, on a form prescribed or approved by the Commissioner, to the purchaser-mortgagor at the time the title insurance commitment is prepared. The notice shall explain:

(A)

A lender’s title insurance policy is to be issued protecting the mortgage-lender;

(B)

The policy does not provide title insurance protection to the purchaser-mortgagor as the owner of the property being purchased;

(C)

What a title policy insures against and what possible exposures exist for the purchaser-mortgagor that could be insured against through the purchase of an owner’s policy; and

(D)

The purchaser-mortgagor may obtain an owner’s title insurance policy protecting the property owner at a specified cost or approximate cost, if the proposed coverages or amount of insurance is not then known.

(2)

A copy of the notice, signed by the purchaser-mortgagor, shall be retained in the relevant underwriting file at least 3 years after the effective date of the policy.