Escrow & Title
Iowa Title Guaranty (ITG) coverage at closing means the buyer and lender receive:
APhysical damage insurance for the property
BTitle protection from the Iowa Finance Authority's ITG program, which functions similarly to private title insurance✓ Correct
CA guarantee that the property will appreciate in value
DIREC certification that the title is marketable
Explanation
Iowa Title Guaranty (ITG) is a state-administered title protection program through the Iowa Finance Authority that provides coverage similar to private title insurance. Many Iowa closings use ITG commitments and certificates as evidence of marketable title and to insure both owners and lenders.
Related Iowa Escrow & Title Questions
- An owner's title insurance policy in Iowa protects:
- In Iowa, what is the role of the county recorder's office in real estate?
- Under Iowa law, which instrument is used to transfer title to real property from seller to buyer?
- What is the purpose of a satisfaction of mortgage (mortgage release) in Iowa?
- In Iowa, the party who traditionally pays for the abstract continuation and attorney's title opinion is:
- Iowa is notable for its use of abstracts of title. After a real estate transaction in Iowa, a buyer typically receives:
- Which type of title insurance policy in Iowa protects the lender's security interest?
- An Iowa property owner who loses their property through foreclosure and later claims they still have an ownership interest in the property would have their claim barred by:
Practice More Iowa Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Iowa Quiz →