According to Missouri law, a "title insurance commitment" is also known as which of the following?

In Missouri law, a "title insurance commitment" is referred to as a preliminary report. This document serves as a preliminary evaluation of the title to a property and outlines the conditions under which a title insurance policy can be issued. It includes details about the property, the current state of the title, any exceptions or matters that could affect the title, and the proposed coverage.

Understanding this terminology is important for anyone involved in real estate transactions or title insurance because it sets the groundwork for any further dealings regarding the title. The preliminary report informs all parties about potential issues that need to be resolved before finalizing the transaction, thus ensuring transparency and clarity.