A title insurance commitment is a contract to enter into a contract. Sounds confusing, doesn’t it?
title insurance underwriter (example: Old Republic National Title or Commonwealth Land Title Insurance Company), though their agent (example: Title Source USA, Inc.), promises the proposed insured (i.e. Buyer or Lender) that if all the conditions and requirements set forth in the commitment are satisfied, the underwriter will issue an Owner’s or Lender’s Policy of Title Insurance on the terms and subject to the exclusions listed in the commitment.
