Escrow & Title
A Kentucky buyer requests that the title commitment be issued before closing. This document shows:
AThe exact closing costs the buyer will pay
BThe current state of title and conditions for issuing a title insurance policy✓ Correct
CThe appraised value of the property
DThe zoning classification of the property
Explanation
A title commitment (also called a title binder) shows the current state of title, identifies any recorded liens or encumbrances, and states the conditions the title company requires to be met before they will issue a title insurance policy.
Related Kentucky Escrow & Title Questions
- A Kentucky buyer discovers after closing that a previous owner had a boundary dispute with a neighbor that was not disclosed. The buyer's owner's title insurance policy would cover this if:
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