What is the document called that commits to issue a title insurance policy?

What is the document called that commits to issue a title insurance policy?

• A. Title Insurance Commitment
• B. Title Policy
• C. Opinion of Title
• D. Survey

Answer: (A)

The main idea is the title commitment. This document is the insurer’s promise to issue a title insurance policy, subject to specific terms, amounts, and conditions. It lays out what will be insured, the policy amount, any exceptions to coverage, and the requirements that must be satisfied before the actual policy is issued. In practice, you review the commitment before closing to see what’s failing or needs to be corrected; once those requirements are met and the premium is paid, the final title policy is issued. The other items—the final policy, an opinion of title, or a survey—serve different roles: the policy is the actual insurance contract after closing, the opinion of title is a lawyer’s assessment of title status, and a survey maps boundaries and easements, not title insurance.

The main idea is the title commitment. This document is the insurer’s promise to issue a title insurance policy, subject to specific terms, amounts, and conditions. It lays out what will be insured, the policy amount, any exceptions to coverage, and the requirements that must be satisfied before the actual policy is issued. In practice, you review the commitment before closing to see what’s failing or needs to be corrected; once those requirements are met and the premium is paid, the final title policy is issued. The other items—the final policy, an opinion of title, or a survey—serve different roles: the policy is the actual insurance contract after closing, the opinion of title is a lawyer’s assessment of title status, and a survey maps boundaries and easements, not title insurance.