A 'satisfaction of judgment' recorded in Alabama serves to:
Why Release a judgment lien from the property owner's record Is Correct
Answer B: Release a judgment lien from the property owner's record
Exam Tip: Escrow & Title
Escrow questions test the neutral third-party role and the sequence of closing events. Remember that the escrow agent acts as a dual agent for both buyer and seller and cannot advocate for either side.
Key Escrow & Title Terms in This Question
People Also Study
Related Alabama Questions
- A buyer who receives a title insurance policy discovers after closing that there is a judgment lien from the previous owner's unpaid debt. The title insurance company will:Escrow & Title
- In Alabama, the probate court records where deeds are filed and recorded. This serves the purpose of:Escrow & Title
- A lis pendens recorded against an Alabama property indicates:Escrow & Title
- In Alabama, a mechanic's lien may be filed by:Escrow & Title
Key Terms to Know
A financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
DeedA written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
Abstract of TitleA condensed history of a property's title, summarizing all recorded documents and encumbrances affecting it from the earliest record to the present.
Chain of TitleThe sequential record of all transfers of ownership for a piece of property from the original patent holder to the present owner.
Study This Topic
Practice More Alabama Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Alabama Quiz →