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14 Cards in this Set
- Front
- Back
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The priority of a recorded instrument is determined by the rate of? |
Recording |
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When an attorney or title insurance company traces the ownership of a parcel of land to the beginning of its recorded history, the process is known as the? |
Title search |
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A recorded notice stating that a pending lawsuit may affect title to a particular property is a ? |
Lis pendens |
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A document that summarizes all recorded interest affecting title to a given parcel of land is an |
Abstract of title |
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All the documents that comprise the history of the title or the |
Chain of title |
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After an attorney examines an abstract, he will render a |
Title opinion |
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Protection against incomplete or defective records of title found after closing can best be obtained by securing |
Title insurance |
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title that is free from reasonable doubts as to its validity is |
Marketable title |
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A problem not covered by standard or extended title insurance is an |
Exception |
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A prorated item paid in advance of settlement will be a |
Debit to the buyer |
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Blank, requires the lender to disclose blank, in a good faith estimate no later than 3 days after loan application |
Respa, all settlement cost |
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A prorated item in arrears will be a |
Credit to the buyer |
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A new loan will show on the settlement statement as a buyer |
Credit |
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Shared items such as property taxes and water bills will be blank, between the buyer and the seller |
Prorated |
