Escrow & Title
In Alaska, a neutral third party that holds funds and documents and follows instructions from both buyer and seller is called:
AA title insurer
BAn escrow agent✓ Correct
CA mortgage servicer
DA closing attorney
Explanation
An escrow agent (or escrow officer) is a neutral third party who holds documents and funds according to written escrow instructions agreed to by the buyer and seller, releasing them when all conditions are met.
Related Alaska Escrow & Title Questions
- In Alaska, who typically pays for the owner's title insurance policy?
- A title insurance policy that protects the lender's interest is called a:
- In Alaska, a 'covenant against encumbrances' in a warranty deed means the grantor warrants that:
- A 'cloud on title' refers to:
- In Alaska, a 'title plant' maintained by a title insurance company is a comprehensive collection of:
- In Alaska, which of the following is TRUE about owner's title insurance?
- In Alaska, a 'subordinate mortgage' is one that:
- Title insurance in Alaska is typically issued based on a search of:
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