Escrow & Title
A forged deed in the chain of title of an Oklahoma property would be covered by:
AThe buyer's homeowner's insurance policy
BThe owner's title insurance policy (for forgeries in the past chain of title)✓ Correct
COnly criminal restitution from the forger
DOREC's Education and Recovery Fund only
Explanation
Owner's title insurance protects against losses from forged deeds in the property's past chain of title. If someone forged a prior deed that clouds the current owner's title, the title insurer will defend the owner's title and compensate for covered losses.
Related Oklahoma Escrow & Title Questions
- A special warranty deed in Oklahoma differs from a general warranty deed because the grantor warrants title only:
- A buyer in Oklahoma who purchases property without title insurance and later discovers an undisclosed easement affecting the property may:
- The priority of liens against a property is generally determined by:
- A special warranty deed differs from a general warranty deed in that a special warranty deed:
- In Oklahoma, the HUD-1 Settlement Statement has been replaced for most residential transactions by:
- RESPA (Real Estate Settlement Procedures Act) prohibits:
- In Oklahoma, the recording of a deed in the county where the property is located:
- A buyer's walk-through inspection before closing in Oklahoma is conducted to:
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