What is the difference between Preliminary Title Report and

Hi Delish,

Welcome to Mortgagefit discussion board.

A preliminary title report is created at the time the report is ordered and an up-to-date report is issued at the time of recording which is called as the final title report. Accuracy of title report is insured by title insurance companies. Such title insurance assures that the insurance company will pay for any damages which may result from title flaw or cloud on title that is not reported or correct the error.

And a limited flag policy is a type of title insurance which is available to lenders which provides limited assurance as to the monetary liens appearing in public records and information contained in tax records.

Do let me know if you have any other questions.

Thanks
Blue

Limited Flag Policies come under group of Limited Coverage Products. There are 2 variations of such policies; one is commonly called LCP - Flag & the other LCP - Flag 65.

Hi Delish,

Welcome to the forums.

Preliminary title report is a report issued by a title company prior to a transaction. It ensures that the title company has insured the title upon and this takes into affect after closing. Often a buyer's attorney may arrange for a title report.

Thanks,
Jerry