Explore the essentials of title insurance in this quiz, focusing on its legal basis, duties of brokers and agents, misconceptions, and RESPA regulations. Understand the nuances of escrow in real estate transactions and the significance of security instruments.
England.
Spain.
France. France.
Sweden.
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A reasonable examination of the record title.
A calculated risk of a known title defect.
The payment of an annual premium.
A waiver of tort liability from the insured.
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Municipal
State
National
International
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Sale's agreement
Deed
Easement or right of way
Bond or note
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The Buyer.
The Seller.
The Title Insurance Agent.
No one. The disposition of the money is governed by the escrow agreement.
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Insured
Underwriter
Insurer
Company
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It is a guarantee that title is clear.
It only requires a one time payment of the premium.
It involves risk elimination or minimization.
It covers attorneys' fees for legal defense of title.
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A cash purchase of a residential property.
The refinance of a first mortgage on a commercial property.
The purchase of a residential condominium unit with a mortgage.
The purchase of an industrial property.
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Estoppel.
The Common Law.
Statues.
Res Judicata.
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The Common Law.
Civil law.
Res Judicata.
Estoppel.
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A mortgage.
A security deed.
A deed of conveyance.
A deed of trust.
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