Escrow & Title
A Connecticut buyer and seller sign a purchase contract. The buyer's attorney prepares a title commitment. What does a title commitment represent?
AA guarantee that the title is free from all defects
BA promise by the title insurance company to issue a title insurance policy subject to specified conditions and exceptions✓ Correct
CA final survey of the property boundaries
DA zoning compliance certificate
Explanation
A title commitment (binder) is the title company's promise to issue a title insurance policy, subject to conditions (e.g., payoff of existing mortgage) and exceptions (e.g., easements, deed restrictions). It is issued after the title search and before the closing.
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