Escrow & Title
A Wyoming buyer's lender requires a lender's title insurance policy. This policy protects:
AThe buyer against title defects
BThe lender against loss if a title defect impairs the lender's security interest✓ Correct
CThe title company against errors in the title search
DThe seller against post-closing claims
Explanation
A lender's title insurance policy (loan policy) protects the mortgage lender's security interest in the property. It is required by most lenders and covers the lender's interest up to the loan amount.
Related Wyoming Escrow & Title Questions
- In Wyoming, a 'gap' in the recording system refers to the period between:
- A Wyoming title company issues an owner's policy and a lender's policy. The owner's policy protects:
- In Wyoming, the priority of liens on a property is generally determined by:
- Wyoming uses which type of legal instrument when real property is used as collateral for a loan?
- In Wyoming, a title insurance policy protects against:
- Wyoming deed of trust foreclosure requires a 'notice of sale' to be published and posted for a specified period before the foreclosure sale. This notice period protects:
- A Wyoming property owner who wants to clear a defective title may file a:
- In Wyoming, a Torrens system of title registration differs from the recording system in that:
Practice More Wyoming Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Wyoming Quiz →