Escrow & Title
What is a title guarantee versus title insurance in Nevada?
AThey are identical forms of title protection
BA title guarantee is a promise by the grantor to compensate for title defects (limited personal liability); title insurance is a comprehensive insurance policy covering losses from title defects✓ Correct
CTitle insurance is only for commercial properties
DA title guarantee provides broader coverage than title insurance
Explanation
Title insurance provides comprehensive protection against financial loss from title defects, backed by an insurance company's reserves. A title guarantee is a personal promise by the grantor — its value depends on the grantor's financial ability to make good on any claim. Title insurance is strongly preferred in Nevada.
Related Nevada Escrow & Title Questions
- What is the 'homestead exemption' from property tax in Nevada and how does it differ from the Homestead Declaration?
- In Nevada, the foreclosure process under a deed of trust is primarily:
- What is an ALTA/NSPS survey and when is it required in Nevada?
- What is a release clause in a Nevada blanket mortgage?
- What is 'actual notice' versus 'constructive notice' in Nevada property law?
- What is an involuntary lien versus a voluntary lien in Nevada real estate?
- In Nevada, escrow instructions are documents that:
- What is a trustee in Nevada's deed of trust arrangement?
Practice More Nevada Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Nevada Quiz →