Final answer:
A Schedule of Exemptions on a Title policy is a list of things not insured in the policy, such as encumbrances, tax liens, and defects. Option c
Step-by-step explanation:
A Schedule of Exemptions on a Title policy is a list of things not insured in the policy. It outlines specific items or conditions that are excluded from coverage under the title insurance policy.
Examples of items that may be included in a Schedule of Exemptions are:
Encumbrances: Outstanding mortgages or liens on the property.
Tax liens: Unpaid taxes owed on the property.
Defects: Structural issues or flaws in the property.
These exemptions are important for the policyholder to understand as they represent potential risks or issues that are not covered by the insurance policy. Option c