Which of the following statements about title insurance is true?

Question

Quizplus · Accepted Answer

Title insurance provides protection against title defects that occurred prior to the effective date of the policy. A premium is paid only once for title insurance, not annually. The policy term can vary depending on the specific policy and the length of the insured's mortgage loan, but it is not necessarily 30 years. While title insurance can offer some protection against losing possession of the property due to a defect in the title, this is not the primary purpose of the policy.

Which of the Following Statements About Title Insurance Is True