Escrow & Title
In a typical Alabama residential transaction, who pays for the owner's title insurance policy?
AThe buyer always pays
BCustom varies — often the seller pays, but it is negotiable between parties✓ Correct
CThe lender always pays
DThe real estate broker pays
Explanation
In Alabama, who pays for the owner's title insurance policy is often negotiable and may depend on local custom, but it is commonly paid by the seller or split between parties.
Related Alabama Escrow & Title Questions
- A buyer purchases an owner's title insurance policy. This policy protects the buyer:
- A lender's title insurance policy protects:
- In Alabama, which document provides the most protection for a buyer against title defects?
- The doctrine of actual notice means:
- The ALTA lender's title insurance policy protects the lender for the life of the loan up to:
- A deed that transfers property from a deceased person's estate to beneficiaries under a will is called a(n):
- Proration of real estate taxes at closing means:
- A buyer who takes title without knowledge of a prior unrecorded deed has what type of protection under Alabama's recording statutes?
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