Property & Title Insurance

Question 1

When personal property is included in the sale, what document transfers ownership?

Answer 1

Bill of Sale

Question 2

Define:

Hypothecation

Answer 2

Pledging real estate as collateral without giving up possession

Question 3

Is forgery in a warranty deed covered under title insurance?

Answer 3

Yes

Question 4

A property was purchased for $200,000, after obtaining a loan for $150,000. How much title insurance coverage did the buyer pay for?

Answer 4

$150,000; the seller’s policy would be for $200,000.

Question 5

Which of the following would be covered under a standard title policy?
Encroachments,
Surveys,
Forgery,
Unrecorded mechanics liens

Answer 5

Only forgery