Escrow & Title
A NH buyer receives a title insurance commitment (binder) before closing. This document:
AIs the actual title insurance policy
BCommits the title insurer to issue a policy and lists the conditions and exceptions to coverage✓ Correct
CGuarantees a clear title with no exceptions
DReplaces the need for a title search
Explanation
A title insurance commitment (binder) is issued before closing and commits the title company to insure the title, subject to specified conditions and exceptions. It identifies title defects that must be resolved before closing and lists standard exceptions to coverage.
Related New Hampshire Escrow & Title Questions
- Which of the following encumbrances would a title search typically NOT reveal?
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- A NH property's title contains a 'gap' period where no deed was recorded. This may be resolved by:
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