Escrow & Title
What is a preliminary title report?
AA guarantee of title insurance coverage
BA report showing the current status of title and any exceptions before issuing a title policy✓ Correct
CA property inspection report
DA lender's appraisal of the property
Explanation
A preliminary title report (prelim) is prepared by the title company showing the current status of title, existing liens, encumbrances, easements, and exceptions that would be excluded from the title policy. It is not a guarantee of title.
Related California Escrow & Title Questions
- In California, who typically acts as the escrow holder in a real estate transaction?
- RESPA prohibits:
- A 'cloud on title' refers to:
- After a loan is paid off in California, the lender should provide a:
- Who selects the escrow company in California?
- Which type of title insurance policy protects the lender's interest in a mortgaged property?
- Which type of deed provides the MOST protection to the buyer?
- A grant deed in California contains which of the following implied warranties?
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