Finance
A South Dakota lender requires title insurance as a condition of making a mortgage loan. This type of policy is called a:
AOwner's policy
BLender's (mortgagee's) policy✓ Correct
CProperty casualty policy
DErrors and omissions policy
Explanation
A lender's (mortgagee's) title insurance policy protects the lender's interest in the property for the amount of the outstanding loan balance. The buyer typically pays for this policy.
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