Escrow & Title
In Tennessee, an 'owner's title insurance policy' is typically issued in the amount of:
AThe outstanding mortgage balance
BThe full purchase price of the property✓ Correct
CThe appraised value of the property
DThe assessed value for tax purposes
Explanation
An owner's title insurance policy is typically issued in the amount of the full purchase price, protecting the owner's full equity interest. A lender's policy covers only the outstanding loan balance.
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