Escrow & Title
What is the purpose of 'ALTA lender's title insurance' in Georgia?
AA. To protect the buyer's equity
BB. To protect the lender's interest in the property against title defects up to the loan amount✓ Correct
CC. To insure the property against physical damage
DD. To guarantee the borrower's ability to repay the loan
Explanation
Lender's title insurance (ALTA Loan Policy) protects the lender's security interest in the property. It covers the lender if a title defect invalidates or impairs their lien position. The coverage reduces as the loan balance decreases.
Related Georgia Escrow & Title Questions
- A lender's title insurance policy protects:
- A 'marketable title' in Georgia means:
- A title search in Georgia examines the public record chain of title to identify:
- Georgia's foreclosure process under a Security Deed is primarily:
- In a Georgia foreclosure sale, the successful bidder receives title through a:
- Which of the following must be recorded for a deed to provide constructive notice in Georgia?
- The priority of liens against Georgia real property is generally determined by:
- FIRPTA requires withholding on the sale of U.S. real property by a foreign seller at a rate of:
Practice More Georgia Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Georgia Quiz →