What is amount of title insurance that kim can purchase

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Reference no: EM133369694

Assignment:

1. Kim Buyer is purchasing a home. The purchase price for the home is $125,000. Kim is obtaining a loan from Acme Loan Company for $105,000. What is the amount of title insurance that Kim can purchase? What is the amount of title insurance that Acme Loan Company can purchase?

2. T. Sawyer has purchased a home. T. Sawyer obtained an owner's title insurance policy that insured the home to be free and clear of any liens and encumbrances. T. Sawyer, after purchasing the home, sells the home to B. Thatcher. B. Thatcher does not buy title insurance. Later it is discovered that there is a mortgage on the property held by H. Finn that dates before the effective date of T. Sawyer's title insurance policy. Does B. Thatcher have any claim against the title insurance purchased by T. Sawyer? Would the result be different if B. Thatcher had inherited the property from T. Sawyer on T. Sawyer's death?

Hinkel, Daniel F.. Practical Real Estate Law (MindTap Course List) (p. 421). Cengage Learning. Kindle Edition.

Reference no: EM133369694

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