NCh2 Title And Title Insurance

Question 1

Ownership of something, and the legal evidence of that ownership is called

Answer 1

Title

Question 2

What type of title can be transferred to another?

Answer 2

Clear or good title

Question 3

What type of title is one that a REASONABLE BUYER would accept as clear?

Answer 3

Marketable title

Question 4

An interest created by a legal document, such as that held by a buyer with a signed sales contract, who has not yet gone to closing is called

Answer 4

Equitable title

Question 5

What instrument agrees to compensate or reimburse the insured against any losses sustained as a result of defects in the title, other than those exceptions listed in the policy

Answer 5

Title insurance policy

Question 6

What will the standard title policy not provide protection for?

Answer 6

Survey or boundary problems

Question 7

The clause title policies may contain, allowing the title company to assume the rights of a buyer with respect to any claim against the seller if the title company has made payments to that buyer to satisfy that claim is called

Answer 7

Subrogation clause

Question 8

An examination of public records to compile a complete history of title is called

Answer 8

An abstract of title

Question 9

A list of all owners from the first until today is called

Answer 9

Chain of title

Question 10

A court procedure to cure or QUIET the TITLE is called

Answer 10

Quiet, title suit