Escrow & Title
An owner's title insurance policy in North Carolina protects:
AThe lender against borrower default
BThe buyer against title defects arising prior to their ownership✓ Correct
CThe seller against post-closing claims
DThe real estate broker against commission disputes
Explanation
An owner's title insurance policy protects the buyer against losses from title defects, liens, or encumbrances that existed prior to their ownership and were not discovered during the title search.
Related North Carolina Escrow & Title Questions
- Which type of deed conveys whatever interest the grantor has, with no warranties?
- In NC, a 'short sale' occurs when:
- A North Carolina attorney issues a title opinion (certificate of title) to:
- A lender's title insurance policy (loan policy) in NC protects:
- The North Carolina excise tax (revenue stamps) on a deed is charged at:
- Priority of liens in North Carolina is generally determined by:
- A 'marketable title' in NC is one that:
- In NC, 'marketable title' means:
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