Finance
In Louisiana, an 'abstract of title' differs from a 'title insurance policy' in that an abstract:
AIs issued by an insurance company
BIs a compilation of public records but does not guarantee the title — an attorney's opinion is needed; title insurance provides financial protection against title defects✓ Correct
CAutomatically insures the buyer against all title defects
DIs required only for commercial properties
Explanation
An abstract is a factual compilation of public records — it requires an attorney's interpretation to render a title opinion. Title insurance provides financial indemnification against covered title defects.
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