Escrow & Title
A South Dakota lender's title insurance policy remains in effect for:
AThe useful life of the property (50 years)
BThe outstanding loan balance period — until the loan is paid off✓ Correct
C10 years from the date of the policy
DThe same period as the owner's title insurance policy
Explanation
A lender's title insurance policy is in force as long as the lender has an interest in the property (i.e., until the mortgage is paid off). The coverage amount decreases as the loan balance is paid down.
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