Utah Real Estate: Property Tax and Title Insurance ch 23 Questions and Correct Answers | Latest Update
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Course
Utah Real Estate
Institution
Utah Real Estate
Ad Valorem Tax
-:- A tax levied according to the value of the property
Alta or Lender's Policy
-:- The lender's title insurance policy which offers coverage in the
amount of the loan which includes a site visit to discover unrecorded
encumbrances
Assessed Value
-:- A percentage of the a...
title, including records of taxes, special assessme nts, judgements,
mortgages, and trust deeds.
Board of Equalization
✓ -:- The body of appeal if you think your property tax appraisal is too
high.
Chain of Title or Abstract of Title
✓ -:- A historical record of land ownership and liens or encumbrances
against the property. (history of ownership)
Cloud on Title
✓ -:- A term that refers to any kind of lien or encumbrance against the
title. (title is not clear)
Extended Coverage (Owner's policy) Title Insurance
✓ -:- Covers claims both on and off the recor d. It includes a site visit to
give protection against unrecorded liens and encumbrances, such as
mechanic's liens, as well as defect in the land itself, such as unrecorded
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