Escrow & Title
Vermont's 'co-insurance' in a title policy refers to:
ATwo title companies sharing the risk on a single policy✓ Correct
BThe insured bearing part of any loss, common in large commercial transactions
CBoth buyer and seller receiving equal coverage
DSupplemental insurance beyond the policy limit
Explanation
Co-insurance in title insurance occurs when the risk is shared between two or more title insurance companies, often used on large commercial transactions where a single insurer does not want to bear the entire risk.
People Also Study
Related Vermont Questions
- Vermont's 'endorsement' to a title insurance policy is used to:Escrow & Title
- A Vermont lender's title insurance policy protects:Escrow & Title
- Vermont's 'survey exception' in a title insurance policy means:Escrow & Title
- Vermont's 'fee owner's policy' of title insurance is most important for:Escrow & Title
- A percentage lease used in Vermont commercial retail properties typically provides for:Property Management
- Vermont's 'quiet title' action is used when:Property Ownership
- A Vermont commercial lease often includes a 'CAM' charge. CAM stands for:Property Management
- A Vermont broker's policy requires all affiliated licensees to use designated agency for in-house transactions. What must the broker do when both the listing agent and buyer's agent are from the same firm?Agency
Key Terms to Know
Title Insurance
Insurance protecting against financial loss from defects in a property's title that existed before closing but were unknown at the time of purchase.
DeedA written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
EasementA non-possessory right to use another person's land for a specific purpose.
EncumbranceAny claim, lien, charge, or liability attached to real property that affects its value or limits its use.
Math Concepts
Study This Topic
Practice More Vermont Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Vermont Quiz →