Escrow & Title
In Texas, an 'owner's title insurance policy' protects:
AThe lender against title defects
BThe property owner against covered title defects discovered after closing✓ Correct
CThe title company against lawsuits
DThe real estate agent against commission disputes
Explanation
An owner's title insurance policy (also called an Owner's Policy) protects the property owner against losses from covered title defects—such as undisclosed liens, forgery, undisclosed heirs, or errors in public records—that existed before closing but were not discovered until after closing. The one-time premium is paid at closing.
Related Texas Escrow & Title Questions
- A Texas buyer's title insurance policy protects against which of the following?
- In Texas, a 'title commitment' Schedule B-I (requirements) might include which of the following items that must be completed before the title company will issue the final policy?
- Which of the following title defects would MOST likely be covered by a Texas owner's title insurance policy?
- In Texas, when does the buyer typically receive the owner's title insurance policy?
- In Texas, the right of rescission under TILA gives a borrower in a refinance transaction (on their primary residence) the right to cancel within:
- When a Texas property is purchased, the buyer assumes which of the following automatically with the deed unless excepted?
- A Texas title company that discovers a judgment lien against the seller at closing will require:
- A Texas title policy's 'survey exception' protects the title company from claims arising from:
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