Escrow & Title
In Kansas, what is the difference between a lender's title insurance policy and an owner's title insurance policy?
AThey are identical in coverage
BA lender's policy protects only the lender's interest; an owner's policy protects the buyer's equity✓ Correct
CAn owner's policy is required by law; a lender's policy is optional
DA lender's policy covers the full purchase price; an owner's policy covers only the down payment
Explanation
A lender's title policy protects the mortgage lender's interest (required for most loans). An owner's policy protects the buyer's full equity and is optional but highly recommended in Kansas.
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