Escrow & Title
Title insurance in West Virginia protects against:
AFuture physical damage to the property
BLosses arising from title defects that existed prior to the policy's effective date✓ Correct
CDepreciation in property value
DEnvironmental contamination discovered after closing
Explanation
Title insurance protects the insured against losses arising from title defects, liens, encumbrances, or other issues that existed before the policy's issuance date but were unknown at the time of purchase.
Related West Virginia Escrow & Title Questions
- At a West Virginia closing, the settlement agent prepares the Closing Disclosure. This document replaced which earlier form?
- In West Virginia, a settlement agent must provide the Closing Disclosure to the buyer at least how many business days before consummation of the loan?
- In West Virginia, a buyer who does not purchase title insurance after purchasing property:
- Under West Virginia law, which of the following is NOT required for a deed to transfer title effectively between the parties (without regard to recording)?
- A West Virginia property is sold through an installment land contract (contract for deed). During the installment period, legal title is held by:
- What is the purpose of a 'chain of title' examination by a West Virginia title attorney?
- A West Virginia 'special warranty deed' differs from a general warranty deed in that the grantor:
- In West Virginia, a 'mechanic's lien' can be filed by:
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