Escrow & Title
A Wyoming title company's liability for a title insurance claim is:
AUnlimited regardless of the policy amount
BLimited to the policy amount (face value) of the title insurance policy✓ Correct
CLimited to the title company's net worth
DNot applicable for any claims after 10 years
Explanation
Title insurance liability is limited to the policy amount (face value)—typically the purchase price for an owner's policy or the loan amount for a lender's policy. The title company cannot be required to pay more than the policy face amount for any covered claim.
Related Wyoming Escrow & Title Questions
- In Wyoming, recording a deed in the county recorder's office provides:
- What is the difference between a standard title insurance policy and an extended coverage (ALTA) policy?
- In Wyoming, which type of deed provides the greatest protection to the grantee?
- A Wyoming buyer who receives a seller's General Warranty Deed is protected because the seller warrants against all title defects:
- A Wyoming buyer who takes title 'subject to' an existing mortgage:
- In Wyoming, a 'gap' in the recording system refers to the period between:
- In Wyoming, a lis pendens recorded against a property indicates:
- A Wyoming property subject to an IRS tax lien has a lien that is:
Practice More Wyoming Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Wyoming Quiz →