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What type of special title insurance policy is used when a property is being purchased through a land sales contract, purchase money mortgage, or purchase money trust deed

User Wstomv
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Answer:

A vendee policy.

Step-by-step explanation:

A vendee policy is a type of special title insurance policy that is used when a property is being purchased through a land sales contract, purchase money mortgage, or purchase money trust deed.

This ultimately implies that, a vendee policy is an equitable buyer's lien issued to the purchaser of a real estate property in order to protect them in terms of repayment of the money being made as payment. It serves as a form of security for the buyer of a real estate property and as such it is enforceable by a court of competent jurisdiction.

User Joey Morgan
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