Escrow & Title
In an Oklahoma transaction, who typically pays for the owner's title insurance policy?
AThe buyer pays for both lender's and owner's policies always
BIt is negotiable — by custom in some Oklahoma areas the seller pays, but it is a negotiable closing cost✓ Correct
CThe lender always pays for the owner's policy
DOREC sets who pays for title insurance
Explanation
While Oklahoma closing customs vary by area, payment of the owner's title insurance policy is a negotiable closing cost. In some markets the seller customarily pays; in others the buyer pays. It should be specified in the purchase contract.
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