Escrow & Title
In Montana, a 'title plant' maintained by a title company is:
AThe physical office where title searches are performed
BA duplicate set of title records organized by property location for efficient title searching✓ Correct
CThe equipment used to print title insurance policies
DA government-maintained record of all property transfers
Explanation
A title plant is a private duplicate set of public records maintained by title companies, organized by property location (rather than by grantor/grantee names like official records). This allows more efficient and comprehensive title searches.
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Key Terms to Know
Title Insurance
Insurance protecting against financial loss from defects in a property's title that existed before closing but were unknown at the time of purchase.
DeedA written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
Abstract of TitleA condensed history of a property's title, summarizing all recorded documents and encumbrances affecting it from the earliest record to the present.
Chain of TitleThe sequential record of all transfers of ownership for a piece of property from the original patent holder to the present owner.
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