Escrow & Title
A 'title commitment' issued in Alaska is best described as:
AA final title insurance policy
BA title company's commitment to issue a title insurance policy after closing, subject to stated exceptions and conditions✓ Correct
CA guarantee of clear title by the escrow agent
DA lender's commitment to provide financing
Explanation
A title commitment (or title binder) is a conditional promise by a title company to issue a title insurance policy after closing, provided that certain conditions are met and subject to the listed exceptions. It is not the actual policy — the final policy is issued after the transaction closes.
Related Alaska Escrow & Title Questions
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- In Alaska, who typically pays for the owner's title insurance policy?
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