Escrow & Title
An Oklahoma title insurance company that discovers a claim against a covered property will typically:
AImmediately pay the full purchase price to the insured
BInvestigate the claim, defend the insured's title in court if necessary, and pay covered losses up to the policy amount✓ Correct
CCancel the policy and refund the premium
DTransfer the claim to OREC for resolution
Explanation
When a title insurance claim arises, the title company investigates, defends the insured's title through legal action if necessary, and pays covered losses (up to the policy limits) if the defense is unsuccessful. Title insurance provides both defense and indemnity.
Related Oklahoma Escrow & Title Questions
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