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Real Estate Schedule B

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REAL ESTATE SCHEDULE B

Title Company:    Preliminary Title Report No.:    Effective Date:

Property Identification

Schedule B — Exceptions and Matters of Record

The following exceptions, encumbrances, interests, defects and other matters are excluded from coverage of any policy contemplated by the referenced preliminary title report. Each listed item is stated as it appears of record as of the Effective Date above.

Taxes, Assessments and Liens

Current Tax Year:    Assessed Value:    Amount Due:

Tax Delinquent: Yes    No

Easements, Restrictions and Covenants

Recorded easements affect the Property: Yes    No

Leases and Tenancies

Recorded or unrecorded leases affecting the Property: Yes    No

Survey and Physical Matters

Survey available: Yes    No

Disclosures and Other Matters

Lead-based paint disclosure applicable: Yes    No

Mold or prior material damage disclosed: Yes    No

Default, Remedies and Title Company Limitation

The Title Company makes no representation or warranty beyond the matters of record set forth in this Schedule B. Any remedy for matters described as exceptions is limited to the terms of the title insurance commitment and applicable policy. Claimant's exclusive remedies for loss arising from matters of record are governed by the terms, conditions and limitations of the title insurance policy to be issued.

Governing Law; Entire Agreement

This Schedule B shall be governed by and construed in accordance with the laws of the state of . This Schedule constitutes the entire statement of exceptions and supersedes prior inconsistent statements of the issuing Title Company with respect to exceptions to title.

Certification

The undersigned, on behalf of the issuing Title Company, certifies that the matters set forth in this Schedule B constitute those exceptions and matters of record identified in the Preliminary Title Report referenced above as of the Effective Date. This Schedule does not constitute a commitment to insure; coverage is provided only by the issuance of a title insurance policy subject to the terms and exclusions of that policy.

Title Company (Issuer):

By:

Date:

Insured / Buyer:

By:

Date:

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What the Real Estate Schedule B Is and where it fits

The Real Estate Schedule B is a title-related attachment that lists exceptions, easements, liens, covenants, and other encumbrances affecting a property's title as disclosed in a title commitment or title insurance policy. It identifies matters that will remain on title after closing unless cleared, and it guides buyers, sellers, lenders, and closing agents about risks that may require resolution. Schedule B does not alter the primary purchase contract but is a contractual disclosure about title condition that influences closing, escrow instructions, and insurance underwriting decisions.

Why a clear Schedule B matters to every closing

A precise Schedule B reduces closing delays, clarifies which title exceptions persist, and allocates responsibility for clearing defects. It protects buyers and lenders by documenting known encumbrances and supports title insurance underwriting and escrow instructions.

Why a clear Schedule B matters to every closing

Who relies on the Schedule B in typical transactions

Parties use Schedule B to understand title exceptions and allocate cure responsibilities before closing.

  • Buyers and lenders reviewing encumbrances, confirming which defects must be cleared prior to funding and insurable exceptions that will remain.
  • Title companies and closing agents using Schedule B to set escrow instructions, calculate premiums, and prepare endorsement requests.
  • Sellers and real estate attorneys negotiating repairs, payoffs, or credits tied to liens, easements, and covenant issues disclosed on Schedule B.

Clear distribution and timely review by these users reduce post-closing claims and unexpected title defects.

Step-by-step: preparing and issuing Schedule B

Follow this sequence to generate, review, and distribute a complete Schedule B ahead of closing.

  • 01
    Order title search: Request a current title commitment and obtain Schedule A and preliminary Schedule B.
  • 02
    Draft exceptions: Populate Schedule B with recorded encumbrances and open matters identified in the search.
  • 03
    Assign cure tasks: Note which exceptions will be cleared before closing and who will arrange payoff or release.
  • 04
    Distribute for review: Send Schedule B to buyer, lender, and counsel for timely objections or acceptance.

Typical routing and processing flow for Schedule B

Schedule B follows a predictable path from title search to closing; ensure each participant receives the latest version.

  • Title Search: Searcher compiles recorded matters and prepares preliminary Schedule B.
  • Title Underwriter: Underwriter reviews exceptions for underwriting decisions and required endorsements.
  • Escrow/Closing: Escrow updates closing instructions based on exceptions and cure status.
  • Post-Closing Filing: Record releases, satisfactions, or corrected documents as needed after closing.

Core elements to include in a professional Schedule B

A complete Schedule B is structured, itemized, and cross-referenced to recorded instruments so all parties and the insurer can act without ambiguity.

Header Info

Title commitment number, effective date, policy type, and insured names so the exceptions are clearly tied to a specific commitment.

Legal Description

Full lot and tract language or metes and bounds description matching county records; partial descriptions cause search mismatches.

Itemized Exceptions

Numbered list of liens, mortgages, easements, restrictions, and judgments with recording citations and dates for precise identification.

Cure or Contingency

A field stating whether the exception will be removed prior to closing or remain as an insured exception with associated conditions.

Exclusions and Notes

Standard title policy exceptions and any lender-specific exclusions or endorsements requested by the insured party.

Signature Block

Issuer signature, title company contact, and date; digital signature or notarization instructions if required by state or lender.

Essential data points to record on Schedule B

Commitment Number: Unique policy identifier
Effective Date: Commitment effective date
Property ID: Parcel or tax ID
Recorded Instruments: Instrument numbers listed
Exception Status: Cure or remain
Issuer Contact: Title company details

Common preparation mistakes that cause delays

  • Listing exceptions without recording citations, which forces manual searches and delays escrow instructions and underwriting decisions.
  • Using vague language like 'existing easements' without description, producing ambiguity about scope and potential use conflicts for the buyer.
  • Failing to indicate cure responsibility or timetable, prompting last-minute disputes between buyer, seller, and lender at closing.
  • Providing an outdated commitment date; exceptions discovered after issuance can trigger re-issuance or holdbacks and postpone closing.

Risks and consequences of incorrect or incomplete Schedule B

Title Claims: Increased post-closing claims
Closing Delays: Escrow and funding postponements
Insurance Gaps: Coverage exclusions or denial
Liability Exposure: Indemnity or litigation risk
Increased Costs: Unexpected cure or endorsement fees
Reputation Risk: Damage to title agent credibility

How to set up Schedule B review in an online closing workflow

Configure fields, conditional logic, and distribution so Schedule B integrates with escrow, underwriting, and eSignature steps.

Field Configuration
Commitment Number Required text field, auto-validate format
Exception Lines Repeatable item with instrument and jurisdiction fields
Cure Checkbox Conditional field triggers follow-up tasks
Signer Role Title officer or authorized agent

Technical considerations for digital Schedule B distribution

Use a platform that supports PDF, DOCX imports, conditional fields, audit trails, and integrations with title and escrow systems.

  • Formats Supported: PDF and Word DOCX accepted
  • Integrations: Connects to Google Workspace, NetSuite, Salesforce
  • Authentication: Email, SMS OTP, or advanced signer ID

Ensure the vendor offers tamper-evident signed PDFs, secure storage, and role-based access aligned with closing workflows.

Timing and deadlines to keep Schedule B current

Timely issuance and review of Schedule B are critical; tie issuance dates to commitment effective dates and closing windows.

Commitment Effective Date:

Date title search is current; triggers validity period

Buyer Review Window:

Provide at least 3–5 business days for objections

Cure Completion:

Resolve liens/payoffs before funding date

Re-issuance:

Re-issue if search is older than 30–60 days

Final Policy Date:

Policy bound at closing and recorded updates

Key milestones from title search to post-closing wrap-up

A phased timeline helps teams coordinate searches, cures, signings, and recordings to avoid bottlenecks.

01

Order Title Search

Initiate search to establish the commitment effective date and populate preliminary Schedule B.

02

Issue Preliminary Schedule B

Distribute to buyer, lender, and seller for review and objections.

03

Clear or List Cures

Complete payoffs, releases, or obtain written waivers as listed on Schedule B.

04

Finalize at Closing

Confirm final Schedule B attached to the issued title policy after recording necessary documents.

eSignature vendor price and capability snapshot for Schedule B workflows

Compare baseline pricing and feature availability for common eSignature platforms used to sign and distribute Schedule B. Pricing shown reflects published starting plans and common feature availability.

signNow DocuSign Adobe Sign PandaDoc HelloSign
Starting Price $8/user/mo $15/user/mo $14/user/mo $19/user/mo $15/user/mo
Free Trial 7-day free trial Varies by plan Varies by plan Varies by plan Varies by plan
Bulk Send Yes Yes Yes Yes No
Audit Trail Yes Yes Yes Yes Yes
HIPAA Compliant Yes Yes Yes No No
Envelope Cap No cap 100 envelopes/user/year Varies by plan Varies by plan Varies by plan

Frequently asked questions about Real Estate Schedule B

Answers to common questions about purpose, corrections, signatures, eSigning, and record retention for Schedule B.


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