Escrow & Title
In Arizona, a 'preliminary title report' issued before closing:
AIs a binding commitment by the title company to insure the title
BIs an informational report showing the current state of title—encumbrances, exceptions, and conditions—that will apply to any title insurance policy issued, but is not itself an insurance commitment✓ Correct
CGuarantees that the title is free and clear of all defects
DIs required only for refinance transactions in Arizona
Explanation
A preliminary title report shows what the title company found in searching the public records—liens, easements, CC&Rs, taxes, and other encumbrances. It identifies what will be included as exceptions in the title policy. It is informational, not a guarantee; the actual title insurance is provided when the final policy is issued at closing.
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