TRANSACTION & CLOSING
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Title insurance
Also called: owner title policy · lender title policy
Insurance protecting against specified covered title defects, subject to the policy’s terms, exceptions and exclusions.
What it means in practice.
Owner and lender policies protect different insured parties. The title commitment or preliminary report is also a key diligence document before closing.
Why it matters.
1031 investors should not let a tax deadline replace ordinary title review.
Additional notes.
Owner and lender policies protect different insured parties. The title commitment or preliminary report is also a key diligence document before closing.
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