Escrow & Title
In Nevada, which party typically pays for the owner's title insurance policy?
AThe buyer always pays for the owner's title insurance
BThe seller typically pays for the owner's title insurance in Southern Nevada (Clark County); in Northern Nevada it may vary✓ Correct
CThe lender pays for both the owner's and lender's policies
DTitle insurance is not required in Nevada transactions
Explanation
In Nevada, there are regional customs: In Clark County (Las Vegas/Henderson area), it is customary for the seller to pay for the owner's title insurance policy as part of their closing costs. In Washoe County (Reno/Sparks area), practices may differ and are often negotiated. The lender's title insurance (ALTA lender's policy) is typically paid by the buyer or borrower. These are local customs and can be negotiated in any transaction — licensees should know their regional practices.
Related Nevada Escrow & Title Questions
- What is a 'short sale' and how does it differ from a foreclosure in Nevada?
- What is a 'construction completion bond' and why is it relevant to Nevada real estate development?
- What is the Nevada common practice for prorating property taxes at closing?
- In Nevada, the foreclosure process under a deed of trust is primarily:
- What is a chain of title in Nevada?
- What does 'ALTA title insurance' provide that a standard policy does not?
- In Nevada, which county records the most real estate transactions?
- In Nevada, what is the 'ALTA' policy of title insurance and how does it differ from a standard coverage policy?
Practice More Nevada Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Nevada Quiz →