something used to tie or bind holds loose papers or magazines a machine that cuts grain and binds it in sheaves something used to bind separate particles together or facilitate adhesion to a surface
One who binds; as, a binder of sheaves; one whose trade is to bind; as, a binder of books
Binder Definition #1: A title insurance binder is the written commitment of a title insurance company to insure title to the property subject to the conditions and exclusions shown on the binder
1 A title insurance binder is the written commitment of a title insurance company to insure title to the property subject to the conditions and exclusions shown on the binder
(a) A written statement from the insurance company showing that the homeowners insurance has been paid for and will be in place after closing (b) A sum of money used as a deposit to show good faith and commitment to the purchase of the real property
Sometimes called "preliminary certificate" or "commitment " (1) A preliminary report as to the condition of a title and a commitment to issue a title insurance policy in a certain manner when certain conditions are met (2) A deposit in escrow of a small part of the purchase price of real estate as evidence of good faith and to bind an agreement to purchase
An agreement executed by an agent or insurer (usually the latter) putting insurance into force before the contract has been written or the premium paid This term is not usually used in Life Insurance See also Cover note (G)