A Title Insurance Policy Indemnifies the Property Owner or Lender

question 8

Multiple Choice

A title insurance policy indemnifies the property owner or lender against loss in value due to:

• A) tax liens
• B) recording mistakes
• C) neither a nor b

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Definitions:

Office Furniture

Desks, chairs, tables, cabinets, and other furnishings used in an office setting to facilitate work and storage.

Double-Declining-Balance

An accelerated method of depreciation which doubles the normal depreciation rate, reducing the asset's book value more quickly.

Resale Value

The estimated market value of an asset at the future point in time when it is likely to be sold.

Office Furniture

Items and accessories designed for use in an office environment, including desks, chairs, cabinets, and shelves.