Asked by Marinda Carraway on Jun 23, 2024

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A contract agreeing to indemnify the insured against certain specified defects in title to real property is called:

A) title insurance.
B) a warranty deed.
C) guarantee insurance.
D) a real estate guarantee.

Title Insurance

An insurance policy that protects property buyers and lenders against losses from defects in the title or ownership of a property.

Insured

An individual or entity covered by an insurance policy, receiving protection against specified losses or damages.

Real Property

Land and anything permanently attached to it, such as buildings, often considered immovable.

  • Gain an understanding of the critical nature and purpose of title searches, securing title insurance, and the process of property deed registration.
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Verified Answer

WN
Wajahat NadeemJun 26, 2024
Final Answer :
A
Explanation :
Title insurance is a contract that protects the insured against certain defects in title to real property. It provides indemnity to the insured if any of the covered risks result in a loss. A warranty deed transfers ownership of real property from one party to another, but does not provide indemnification against defects in title. Guarantee insurance and real estate guarantee are not commonly used terms in the context of real estate transactions.