Escrow & Title
In Georgia, title insurance protects against:
AA. Future zoning changes
BB. Unknown defects in title that existed before the policy's effective date✓ Correct
CC. Damage to the property after closing
DD. Changes in property value
Explanation
Title insurance protects against losses from defects in title that existed before the policy date, such as forged deeds, undisclosed heirs, errors in public records, or undisclosed liens. It does not cover future events.
Related Georgia Escrow & Title Questions
- Proration at closing adjusts financial items so that:
- In Georgia, the security instrument used by lenders (instead of a traditional mortgage) is called a:
- A short sale in Georgia occurs when:
- Title insurance exceptions typically include which of the following?
- Georgia is known as an attorney closing state, which means:
- A subordination agreement in real estate allows a later mortgage to:
- In Georgia, a security deed (also called a deed to secure debt) differs from a mortgage because:
- A 'cloud on title' refers to:
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