First American Title Insurance Co. v. Action Acquisitions, LLC

OPINION

JOHNSEN, Presiding Judge.

¶ 1 In this case we address the meaning of a form exclusion in a title insurance policy insuring title to a home that was purchased at a sheriffs sale for $3,500, less than three percent of the value of the equity in the home. After the superior court set aside the purchase because the price was so low that it “shoek[ed] the Court’s [conscience],” the insureds sought reimbursement from the title insurer for the fair market value of the home. We hold that coverage was barred by a form provision in the policy that excluded coverage for a loss resulting from the…