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ORDERING TITLE INSURANCE (Who orders? What if the title insurance is split? What kind of title insurance? Who reviews it?) WHO ORDERS? The answer is contained in the GEAR Buy & Sell Agreement. In
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What is ordering title insurance?
Title insurance is a type of insurance policy that protects a homeowner or lender against financial loss from defects in title to real property and from the invalidity or unenforceability of mortgage liens.
Who is required to file ordering title insurance?
Home buyers and lenders are typically required to file ordering title insurance.
How to fill out ordering title insurance?
Ordering title insurance involves providing information about the property, the buyers, and any existing mortgage or liens on the property. This information is typically collected by a title insurance company or agent.
What is the purpose of ordering title insurance?
The purpose of ordering title insurance is to protect the homeowner and lender from financial loss due to issues with the title of the property.
What information must be reported on ordering title insurance?
Information such as the property address, legal description, current ownership, outstanding mortgages, liens, judgments, and any other encumbrances must be reported on ordering title insurance.
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