Included in the definition of "Insured" under a loan policy is which entity?

The definition of "Insured" under a loan policy typically encompasses parties that have a vested interest in the policy, which is intended to protect their financial interests related to the property being financed. Within this context, a person with control of the transferable record is included because that individual plays a crucial role in the handling and management of the loan documents and associated rights.

In title insurance, having control over the transferable record ensures that the insured party can enforce their rights and is recognized in the transaction. This inclusion helps clarify who is protected under the policy in instances of claims or disputes relating to the title of the property in question.

The other mentioned entities, while they may be involved in various financial or legal contexts, do not directly align with the typical definition of "Insured" in a loan policy as established by title insurance regulations. For example, while obligors and assumptive obligors are important in the context of debt, they do not necessarily control the record of the loan itself in the way that a person with control of the transferable record does. The surviving entity from a merger also does not capture the essence of the loan policy in the same clear manner, as it pertains more to the continuity of ownership rather than the act of managing a loan document