Escrow & Title
A preliminary title report (or title commitment) in Arizona is issued by a title company and PRIMARILY serves to:
AGuarantee the property's value to the buyer
BDisclose the current state of title, including liens and encumbrances, and commit to insure title subject to stated exceptions✓ Correct
CProvide a final survey of the property boundaries
DConfirm that the earnest money has been deposited
Explanation
A title commitment (preliminary report) discloses the current state of title — existing liens, easements, and encumbrances — and is the title company's commitment to issue a title insurance policy, subject to the listed exceptions and requirements.
Related Arizona Escrow & Title Questions
- A release of lien in Arizona is used to:
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- In Arizona, 'constructive notice' is provided by:
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- An Arizona escrow agent who disbursed funds based on a fraudulently forged signature on an escrow instruction may be liable to:
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