A party in possession is generally a standard exception in a loan policy.

Name: A party in possession is generally a standard exception in a loan policy.
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A party in possession is a common exception in loan policies because it refers to a person or entity that is occupying the property but is not listed on the policy as an insured party. This exception protects the lender from any liability or loss resulting from someone who was not covered by the policy being in possession of the property.

A Party in Possession Is Generally a Standard Exception in a Loan