Escrow & Title
What is 'title insurance' and why is it important in Nevada?
AInsurance against future property tax increases
BInsurance that protects against losses arising from defects in title discovered after closing, such as forged deeds, undisclosed liens, or recording errors✓ Correct
CInsurance against physical damage to the property
DA bond guaranteeing the seller's right to sell the property
Explanation
Title insurance in Nevada protects against covered title defects that existed before the policy date but were not discovered during the title search. Common covered claims include forged deeds, undisclosed heirs, recording errors, and unknown liens. Unlike other insurance, it is a one-time premium paid at closing. Both lender's policies (required by most lenders) and owner's policies are available.
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