Definition
This preliminary report shows what title insurance will cover and lists any problems (liens, easements, restrictions) that need clearing before you own the property. Review it carefully.
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The title commitment is issued during the title search phase and lists all exceptions and requirements for insuring clear title. The buyer and lender review this document to ensure all issues are addressed. Final title insurance is issued at closing when all exceptions are satisfied.
Pro Tip
Review your title commitment carefully. Ask your attorney to explain any exceptions.
Example
The title commitment revealed a utility easement that didn't affect the purchase, so closing proceeded as scheduled.