A contract related to title insurance must set forth the name of which party for comparison against the grantee's name on the last deed of record?

In the context of title insurance, it is essential for the contract to specify the seller's name because the seller is the party who previously held title to the property being transferred. When examining the title history, the name of the seller allows for a direct comparison against the grantee's name on the last deed of record. This step is crucial for ensuring that the chain of title is clear and that no issues arise regarding ownership, such as unpaid liens or other encumbrances that may affect the buyer’s interest.

Identifying the seller correctly helps to trace the title back to its original source and confirms that the seller has the legal right to transfer ownership to the buyer. This diligence is vital for the title insurance company to issue a policy that protects the buyer from future claims against the title. Other parties, such as the buyer, lender, or realtor, do not hold the same significance in this specific context of verifying ownership through the title history.