Asked by Elizabeth McGee on Jun 25, 2024
Verified
A buyer is protected from losses resulting from a defect in the title of property by title insurance.
Title Insurance
Insurance to protect against loss from disputes over ownership of a property or from defects in the property's title.
Defect
A flaw or imperfection in a product or system that fails to meet a certain standard or expectation, potentially causing harm or failure.
Title
Legal ownership of property, including the rights to use, possess, and transfer the property.
- Identify the importance and implications of title insurance for property buyers.
Verified Answer
AB
Amani ByronJun 28, 2024
Final Answer :
True
Explanation :
Title insurance protects a buyer from financial loss due to defects in the title of the property, ensuring they have clear ownership rights.
Learning Objectives
- Identify the importance and implications of title insurance for property buyers.