A seller has owner's title insurance. At closing if the buyer wants owner's title insurance, which of the following statements is correct?
A. The buyer can assume the seller's policy.
B. The policy runs with the land and the buyer would not need a new policy.
C. The buyer would have to take out a new owner's title insurance policy.
D. The premium for a new owner's title insurance policy would cover a period of one year.
Answer: C. The buyer would have to take out a new owner's title insurance policy.
You might also like to view...
A marketer is interested in segmenting a business market on ________ if the marketer's variables are loyalty and attitudes toward risk
A) situational factors B) purchasing approaches C) personal characteristics D) operating variables E) demographic variables
A current account deficit is also known as a(n):
A. stock deficit. B. inventory deficit. C. external deficit. D. tariff deficit. E. trade deficit.