Pursuant to the current form of commitment for title insurance, the obligation under it is not intended to be in lieu of which of the following?

• A. Neither ALTA Owner's Policy nor ALTA Lender's Policy
• B. ALTA Owner's Policy
• C. ALTA Lender's Policy
• D. All of the Above

Answer: (A)

A title insurance commitment is a promise to issue a policy in the future, not the actual policy. It sets out the lender’s and owner's expectations and the conditions that must be met before coverage begins, but it does not replace the final ALTA Owner’s Policy or ALTA Lender’s Policy. The final policies provide the actual title protection, while the commitment only facilitates issuance. Therefore, the obligation under the commitment is not intended to be in lieu of either policy; the final owner’s or lender’s policy is still needed to obtain the full title insurance protection.