Escrow & TitleIntermediateAlabama Exam
Which type of notice is provided when a buyer physically occupies a property?
AConstructive notice
BActual noticeCorrect
CInquiry notice
DLegal notice
Why Actual notice Is Correct
Answer B: Actual notice
Actual notice means a party has direct knowledge of a fact. A buyer in possession of a property provides actual notice of their claim to anyone who visits or inspects the property.
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.
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Key Terms to Know
Deed
A 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.
EasementA non-possessory right to use another person's land for a specific purpose.
EncumbranceAny claim, lien, charge, or liability attached to real property that affects its value or limits its use.
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