As used in this act:
1. "Buyer" means a person who purchases property through financing, in whole or in part, by a loan secured by the property;
2. "Mortgagee" means a person who provides financing, in whole or in part, to a buyer for the purchase of property and the financing is secured by the property;
3. "Person" means an individual, partnership, corporation, trust or other legal entity;
4. "Property" means real property which is either improved property or unimproved property which is purchased through financing by a loan for construction; and
5. "Title protection document" means a lawyer's title opinion letter, a title certificate, a title insurance policy or other written assurance as to the state of the title to property.
Laws 1979, c. 166, § 1.