Escrow & Title
In Arizona, an 'order of title' from a title company provides:
AAn immediate guarantee of title
BA commitment to issue title insurance, subject to certain exceptions, upon recording and payment of the premium✓ Correct
CA final, binding title opinion
DEvidence that the property is free of all liens
Explanation
A title commitment (title report/order) is a promise by the title company to issue a title insurance policy after closing, subject to the stated requirements being met and the noted exceptions. It is not itself a policy or guarantee of title.
Related Arizona Escrow & Title Questions
- In Arizona, the seller typically pays for which of the following title insurance policies?
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