Escrow & Title
A buyer purchases an owner's title insurance policy. This policy protects the buyer:
AOnly during the purchase transaction
BFor as long as the buyer or their heirs have an interest in the property✓ Correct
CFor 10 years from the date of issuance
DUntil the property is refinanced
Explanation
An owner's title insurance policy is a one-time premium policy that protects the buyer and their heirs for as long as they retain an interest in the property.
Related Alabama Escrow & Title Questions
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