Escrow & Title
A lender's title insurance policy (loan policy) in Mississippi protects:
AThe homebuyer's equity
BThe lender's interest up to the outstanding loan balance✓ Correct
CBoth the buyer and lender equally
DThe title company against errors
Explanation
A lender's title insurance policy protects the mortgage lender's interest up to the amount of the outstanding loan. It does not protect the homeowner's equity; a separate owner's policy is needed for that.
Related Mississippi Escrow & Title Questions
- A Mississippi buyer's lender requires title insurance with a 'ALTA Homeowner's Policy.' This policy provides broader coverage than a standard ALTA Loan Policy because it:
- ALTA title insurance provides protection against all of the following EXCEPT:
- In Mississippi, an abstract of title is a:
- A tax deed in Mississippi is issued when:
- A deed of reconveyance in Mississippi is issued when:
- A lis pendens recorded against a Mississippi property means:
- Proration of property taxes at closing in Mississippi means:
- A Mississippi property has a 'mechanic's lien' filed against it. This lien is filed by:
Practice More Mississippi Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Mississippi Quiz →