Escrow & Title
In Illinois, who typically pays for the owner's title insurance policy?
AAlways the buyer
BAlways the seller
CThe lender
DIt varies by local custom and is negotiable✓ Correct
Explanation
In Illinois, who pays for the owner's title insurance policy is a matter of local custom and is negotiable between buyer and seller. In the Chicago area, it is common for the seller to pay for the owner's policy, while customs vary in other parts of the state.
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