Humber/Ontario Real Estate Course 2 Exam Practice

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Title insurance is generally categorized as what?

  1. Has standardized coverage throughout the province

  2. Is not permitted by law to insure over minor encroachments

  3. Is typically categorized as either loan policies or owner policies

  4. Eliminates the need for a survey

The correct answer is: Is typically categorized as either loan policies or owner policies

Title insurance is typically categorized as either loan policies or owner policies. This categorization is accurate because title insurance policies can indeed be categorized into these two main types. Loan policies protect the lender's interest in the property's title, while owner policies protect the buyer's or owner's interest in the property's title. This distinction helps ensure that the concerns and interests of both parties involved in a real estate transaction are appropriately addressed and protected by the title insurance policy.

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