Escrow & Title
What is a 'preliminary title report' (prelim) in a Nevada transaction?
AThe final title insurance policy issued at closing
BA report issued before closing that shows the current state of title, including ownership, existing liens, encumbrances, and easements — it allows parties to review and clear title issues before finalizing the transaction✓ Correct
CA survey of the property's boundary lines
DA document listing the property's tax payment history
Explanation
The preliminary title report (prelim) is issued by the title company after searching public records. It shows who currently holds title, all recorded liens and encumbrances, easements, CC&Rs, and exceptions to coverage. In Nevada, buyers and their agents should carefully review the prelim to identify issues (like unpaid HOA liens or utility easements) that must be resolved before or at closing.
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