Escrow & Title
A Connecticut buyer purchases an owner's title insurance policy at closing. This policy protects:
AThe lender only
BThe buyer (owner) against title defects existing before the date of the policy✓ Correct
CThe buyer against future title disputes
DThe title company against errors in the search
Explanation
An owner's title insurance policy protects the buyer against losses from title defects that existed prior to the policy issue date, such as unknown liens, forged deeds, or recording errors. It lasts as long as the owner holds the property.
Related Connecticut Escrow & Title Questions
- In Connecticut, which party is responsible for ordering and paying for the title search?
- At a Connecticut closing, the seller's proceeds are reduced by a 'prorated property tax' debit. This means:
- A Connecticut buyer's attorney performs a title examination and issues a 'title opinion.' This opinion states whether:
- A Connecticut property is sold at foreclosure. The proceeds are $280,000. The amounts owed are: first mortgage $200,000; mechanic's lien $25,000; second mortgage $80,000; property tax lien $8,000. In what order are the liens paid?
- A 'survey' of a Connecticut property is conducted to:
- A Connecticut buyer and seller sign a purchase contract. The buyer's attorney prepares a title commitment. What does a title commitment represent?
- A Connecticut title search reveals that the property's current deed was recorded in 2018, but there is a gap in the chain of title from 1995 to 2005. This gap:
- A Connecticut property closes on March 15th. The annual property taxes of $6,000 are paid in full by the seller for the calendar year. How is this prorated at closing?
Practice More Connecticut Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Connecticut Quiz →