Escrow & Title
A Wyoming title insurance policy lists the following as a Schedule B exception: 'Easement for power line purposes as recorded in Book 142, Page 87, county records.' This means:
AThe easement will be paid for by the title company if it causes a loss
BThe power line easement is NOT covered by the title insurance policy; it is excepted from coverage✓ Correct
CThe title company will remove the easement within 90 days
DThe buyer can demand the seller remove the easement before closing
Explanation
Schedule B exceptions in a title insurance policy identify matters that are NOT covered by the policy. The buyer takes title subject to the listed easements, encumbrances, and conditions.
People Also Study
Related Wyoming Questions
- A Wyoming buyer discovers after closing that there is an undisclosed easement across the back of the property used by a neighbor. The buyer's title insurance may cover this if:Escrow & Title
- In Wyoming, a buyer who takes title subject to an existing lien that was not disclosed by the seller may:Escrow & Title
- An owner's title insurance policy in Wyoming protects:Escrow & Title
- A Wyoming buyer's lender requires a lender's title insurance policy. This policy protects:Escrow & Title
- A Wyoming property owner who grants an easement to a utility company for power lines is granting:Property Ownership
- In Wyoming, a lender's title insurance policy (loan policy) is required to be issued for an amount equal to:Finance
- A Wyoming lender requires 'impound' or 'escrow' accounts for property taxes and insurance. This means:Finance
- A Wyoming property sells for $520,000. Recording fees are $250, title insurance is $1,800, and the broker commission is 5.5%. What are the total seller closing costs (excluding loan payoff)?Real Estate Math
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.
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.
Abstract of TitleA condensed history of a property's title, summarizing all recorded documents and encumbrances affecting it from the earliest record to the present.
Math Concepts
Study This Topic
Practice More Wyoming Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Wyoming Quiz →