The Docket: Arizona Supreme Court Rules Against Insurer on Date of Loss Issue

June 23, 2016

Christopher W. Smart, a real property trial attorney with Carlton Fields, provided today’s review of a decision by Arizona Supreme Court that held the date for calculating diminution in value based on a partial title defect pursuant to section 7(a)(iii) of the 1992 ALTA Loan Policy is the date of the policy if the title defect causes the borrower to default. Read on to learn how this decision could impose extra-contractual liability on title insurers.

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