Escrow & Title
In NC, 'title insurance' differs from other types of insurance in that it:
ACovers future risks and events
BCovers past events (pre-existing title defects) that were unknown at the time of the policy✓ Correct
CIs paid in monthly installments
DIs required only for commercial properties
Explanation
Title insurance is unique in that it insures against losses from defects or claims that existed before the policy date but were unknown at the time — rather than future events like property or health insurance.
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