Escrow & Title
In Montana, 'title insurance' is different from a title search in that it:
AReplaces the need for a title search
BProvides financial protection against loss from title defects, while the title search is the process of examining records to find defects✓ Correct
CGuarantees the accuracy of the survey
DIs only required for commercial transactions
Explanation
A title search examines public records to identify title defects. Title insurance provides financial protection against losses from defects not discovered during the search, as well as certain defects that could not be discovered by a records search.
Related Montana Escrow & Title Questions
- In Montana, a 'mortgagee's title insurance' (lender's title insurance) policy protects:
- In Montana, the most common method of holding title for a married couple is:
- In Montana, a 'deed of reconveyance' is recorded when:
- The proration of property taxes at closing is based on:
- Montana does NOT impose a state real estate transfer tax. This means:
- A 'deed in lieu of foreclosure' in Montana means that:
- In Montana, 'actual notice' of a prior interest in property means:
- ALTA title insurance policies differ from standard coverage policies because ALTA policies:
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