On what type of document is a consumer informed of the right to purchase an owner's title insurance policy?

A consumer is informed of the right to purchase an owner's title insurance policy through the statutory notice to buyer. This document serves as a formal notification that outlines the various rights and options available to a buyer during a real estate transaction, specifically regarding title insurance. The statutory notice is designed to ensure transparency and promote understanding of title insurance, which protects property owners against potential defects or issues with the title of the property.

The reason the statutory notice is significant is that it not only informs buyers of their right to obtain an owner's title insurance policy but also provides important details about the benefits of such insurance, helping them make informed decisions.

Other options like the privacy notice focus on how personal information is handled, the owner/seller affidavit deals more with declarations about the property from the seller, and the HUD-1 Settlement Statement is primarily a financial disclosure document that outlines the costs and settlement details of the transaction. These documents do not specifically address the consumer's right to purchase title insurance, making the statutory notice to buyer the correct choice for this inquiry.