Escrow & Title
A standard coverage owner's policy versus an ALTA (American Land Title Association) extended policy — in Nevada, a lender typically requires:
AA standard coverage owner's policy
BAn ALTA extended coverage lender's policy✓ Correct
CNo title insurance for loans under $500,000
DA quitclaim deed in lieu of a title policy
Explanation
Lenders in Nevada typically require an ALTA extended coverage lender's title insurance policy, which offers broader protection than a standard coverage policy, covering survey matters and off-record risks.
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