How long must a search and examination file be maintained after a policy is issued?

The correct duration for maintaining a search and examination file after a policy is issued is fifteen years. This requirement ensures that there is a comprehensive record available for any future inquiries or claims that may arise related to the title insurance policy.

Maintaining such files for fifteen years aligns with industry standards and legal regulations that may dictate how long records should be kept to provide evidence of due diligence and to facilitate any necessary follow-up actions regarding the title. A well-maintained file allows title insurance producers and their clients to access historical data, which can be crucial in resolving disputes or claims that may surface long after the policy has been issued.

The other time frames listed do not meet the regulatory standards set by the industry for record keeping. While shorter periods may seem reasonable, they do not provide sufficient time for records to remain accessible for potential future issues. On the other hand, indefinite maintenance may not be practical or necessary, as it can lead to excessive accumulation of outdated information that could complicate record-keeping practices. Therefore, the fifteen-year requirement strikes a balance between efficient record management and adequate protection for policyholders.