What is the term for a provision that imposes an obligation to perform an act before a title insurance policy is issued?

The term that refers to a provision imposing an obligation to perform an act before a title insurance policy is issued is "requirements." In the context of title insurance, requirements are tasks or conditions that must be fulfilled by the parties involved, such as providing specific documentation or correcting defects in the title, before the insurer will finalize and issue the title policy. These requirements are critical for ensuring that the title is clear of issues that could affect coverage.

Understanding this term is essential in title insurance as it highlights the preconditions necessary for the risk coverage to be effective. When a title insurance company issues a policy, it does so based on certain criteria being met that protect both the insurer and the insured from potential claims or defects in the title that may arise after issuance.