Escrow & Title
A title commitment (preliminary title report) issued in a New Mexico transaction is:
AA guarantee that title is clear
BThe title company's commitment to issue title insurance, subject to listed exceptions and requirements✓ Correct
CA final title insurance policy
DA government certification of clear title
Explanation
A title commitment is the title insurance company's promise to issue a policy, subject to the buyer and seller satisfying certain requirements and subject to enumerated exceptions. It is not a final policy.
Related New Mexico Escrow & Title Questions
- A lis pendens recorded against a property indicates:
- A release deed (reconveyance) in New Mexico is used to:
- A lender's title insurance policy in New Mexico protects:
- In New Mexico, 'proration' at closing refers to:
- In New Mexico, which document conveys legal title to real property from seller to buyer?
- In New Mexico, a trustee's sale (foreclosure sale) on a deed of trust property occurs after the lender records a:
- In New Mexico, a 'closing agent' or 'settlement agent' is typically:
- In New Mexico, when is a deed considered 'delivered and accepted' for legal transfer of title?
Practice More New Mexico Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free New Mexico Quiz →