Escrow & Title
A Massachusetts title insurance company's 'commitment' or 'binder' issued before closing represents:
AA guarantee of clear title
BA preliminary report identifying title conditions and exceptions, with a promise to issue a policy after closing if requirements are met✓ Correct
CA final title insurance policy
DA legal opinion from an attorney
Explanation
A title commitment (binder) is the title company's promise to issue a title insurance policy after closing, subject to specified conditions and exceptions. It identifies Schedule A (property and ownership details), Schedule B-I (requirements to be satisfied), and Schedule B-II (exceptions to coverage).
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