Escrow and Closing

Escrow and Closing QUESTIONS WITH COMPLETE SOLUTIONS Last document update:   ago

The best way to discover defects on a title is by: CORRECT ANSWERS: a search of title A title search will reveal the chain of title and any defects that may exist against the title. The CLTA standard form title insurance policy insures against CORRECT ANSWERS: forgery of a deed. It insures matters of record not specifically excluded from coverage as well as matters not on record. Items not on record specifically insured against include forgery. When transactions involving the sale of r...

Escrow and Closing QUESTIONS WITH COMPLETE SOLUTIONS Last document update:   ago

When the executed escrow instructions differ from the purchase agreement, which of the following is correct? CORRECT ANSWERS: The escrow instructions take precedence. The escrow instructions take precedence over all other documents. Escrow agents must: CORRECT ANSWERS: - remain neutral by acting as an agent for both buyer and seller. - strictly comply with the escrow instructions. - treat information as confidential. An escrow agent must treat information as confidential, strictly co...