Escrow & Title
In Arizona, 'gap insurance' in a title insurance context covers the period between:
AThe appraisal date and the closing date
BThe date of the title search and the date the deed is recorded, during which new liens or encumbrances could be recorded✓ Correct
CThe loan application and the loan approval
DThe contract signing and the inspection period
Explanation
A gap in title coverage occurs between the date of the title search and the actual recording of the deed. New liens, judgments, or other encumbrances recorded during this period could affect title.
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