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14 Cards in this Set

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The priority of a recorded instrument is determined by the rate of?

Recording

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

A recorded notice stating that a pending lawsuit may affect title to a particular property is a ?

Lis pendens

A document that summarizes all recorded interest affecting title to a given parcel of land is an

Abstract of title

All the documents that comprise the history of the title or the

Chain of title

After an attorney examines an abstract, he will render a

Title opinion

Protection against incomplete or defective records of title found after closing can best be obtained by securing

Title insurance

title that is free from reasonable doubts as to its validity is

Marketable title

A problem not covered by standard or extended title insurance is an

Exception

A prorated item paid in advance of settlement will be a

Debit to the buyer

Blank, requires the lender to disclose blank, in a good faith estimate no later than 3 days after loan application

Respa, all settlement cost

A prorated item in arrears will be a

Credit to the buyer

A new loan will show on the settlement statement as a buyer

Credit

Shared items such as property taxes and water bills will be blank, between the buyer and the seller

Prorated