Escrow & Title
What is the purpose of a preliminary title report in a Nevada real estate transaction?
ATo provide the final title insurance policy
BTo reveal any liens, encumbrances, or defects in title before closing✓ Correct
CTo establish the property tax assessment
DTo confirm the property's zoning classification
Explanation
A preliminary title report (prelim) discloses any existing liens, easements, encumbrances, or clouds on title before the transaction closes, giving the buyer and lender the opportunity to address or negotiate any issues.
Related Nevada Escrow & Title Questions
- What is a 'subordination clause' in a Nevada commercial lease?
- What is a notice of completion in Nevada real estate?
- In Nevada, the foreclosure process under a deed of trust is primarily:
- What is an 'endorsement' to a title insurance policy and when might one be needed in Nevada?
- A standard coverage owner's policy versus an ALTA (American Land Title Association) extended policy — in Nevada, a lender typically requires:
- In Nevada, which party typically pays for the owner's title insurance policy?
- What is 'mechanic's lien priority' in Nevada and how does it affect a property buyer?
- What is a Nevada HOA's 'first right of approval' for buyers and is it enforceable?
Practice More Nevada Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Nevada Quiz →