Escrow & Title
Owner's title insurance protects:
AThe lender against loss from title defects
BThe buyer/owner against loss from title defects discovered after closing✓ Correct
CBoth buyer and lender equally
DThe title company against errors in its search
Explanation
Owner's title insurance protects the property owner against losses arising from title defects, liens, or encumbrances that were not discovered during the title search, including forgeries and errors in public records.
Related Arkansas Escrow & Title Questions
- Cloud on title refers to:
- The title to real property is transferred at closing when:
- A marketable title is one that:
- The right of redemption allows a defaulting borrower to:
- A subordination agreement allows:
- In an escrow closing, what triggers the disbursement of funds and recording of the deed?
- A title search is conducted to:
- A satisfaction of mortgage (release of lien) is recorded when:
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