§ 36-5004. "Title insurance policy" and "aircraft title insurance policy" - Definitions.

A.  A "title insurance policy" is any written instrument purporting to show the title to real or personal property or any interest therein or encumbrance thereon, or to furnish such information relative to real property, which written instrument in express terms purports to insure or guarantee such title or the correctness of such information.

B.  An “aircraft title insurance policy” is any written instrument purporting to show title to aircraft or any interest therein or encumbrance thereon, which written instrument in express terms protects an aircraft owner or lender against loss of the aircraft or priority security position in the event of a successful adverse claim on the title to an aircraft.

Added by Laws 1957, p. 408, § 5004, operative July 1, 1957.  Amended by Laws 2006, c. 264, § 61, eff. July 1, 2006.