Which aspect of Schedule B requires resolution before a title policy is issued?

The aspect of Schedule B that requires resolution before a title policy is issued involves the release of existing liens and paying taxes. Schedule B outlines specific exceptions to coverage in a title insurance policy. These exceptions often include any outstanding liens or claims that can affect the title to the property. The resolution of these issues is critical because any existing liens—such as mortgages, judgments, or other encumbrances—must be cleared to ensure that the title is free and clear of any financial claims before the policy is completed.

Additionally, any taxes owed on the property must be paid or resolved, as unpaid taxes can also create a lien that affects ownership and can lead to foreclosure or other complications. Therefore, addressing and resolving these financial obligations is essential to protect the buyer's interest and ensure that the title insurance policy provides the intended coverage without any undisclosed risks.

The other aspects listed, such as multiple ownership claims, exceptions that would not be covered, and changes to property description, may present issues that need to be addressed but do not necessarily require resolution before the title policy can be issued. Instead, these may be matters to be documented or clarified in the policy but do not impede the issuance of the policy itself.