Question

Under the TREC-promulgated residential contract, the seller has how many days from the date the title company receives the contract to deliver a "commitment for title insurance" to the buyer?

a) 10 days.

b) 15 days.

c) 20 days.

d) 25 days.

Answer 1

The seller has 20 days from the date the title company receives the contract to provide a commitment for title insurance to the buyer, as per the TREC-promulgated residential contract.

Step-by-step explanation:

Under the TREC-promulgated residential contract, the seller has 20 days from the date the title company receives the contract to deliver a "commitment for title insurance" to the buyer. This provision ensures that the buyer will receive the necessary documentation relating to the title of the property within a reasonable timeframe, allowing for the transaction process to proceed smoothly.