What is the report published for the buyer after a title examination is completed called?

The report published for the buyer after a title examination is completed is known as a title commitment. This document outlines the terms under which the title insurance will be issued, detailing any exceptions to coverage, requirements to close the transaction, and a summary of the findings from the title search. It serves not only as an assurance to the buyer regarding the ownership of the property but also as a guide for the closing process.

A title commitment is essential because it helps buyers understand any potential issues that may affect their ownership rights. It provides clarity on what is covered by the insurance policy and helps facilitate a smooth closing process as both parties are informed about the state of the title.

Other options such as a title chain, title exception, or title policy refer to different aspects of title insurance and property ownership. A title chain typically describes the history of ownership of the property rather than a report generated at the end of an examination, while title exceptions specifically list exclusions or limitations in coverage within a title policy. The title policy itself is the insurance product that protects against losses arising from title defects, issued after a commitment has been fulfilled and the transaction is completed.