Which document typically outlines the coverage details of a title insurance policy?

The document that typically outlines the coverage details of a title insurance policy is the Title Commitment. This document serves as a preliminary report that sets forth the conditions under which the title insurance policy will be issued. It details the title to the property, any exclusions, and any conditions that must be met to complete the transaction.

The Title Commitment includes information about the property, the parties involved, and any existing liens or encumbrances. This is crucial for buyers and lenders to understand the extent of the coverage and any potential risks associated with the title before they finalize the purchase or loan.

While the Owner’s Policy Document does provide information about the coverage details once the policy is issued, the Title Commitment is the initial document that outlines the terms and conditions before the actual policy is issued. The Closing Disclosure is primarily concerned with the financial aspects of the transaction, such as the closing costs and payment details, rather than the specifics of title insurance coverage. The Mortgage Agreement relates to the loan secured by the property and does not deal with title insurance coverage at all.