In Alaska, which of the following items would a title search typically NOT reveal?
Why An unrecorded easement created by long-term use (prescriptive) Is Correct
Answer B: An unrecorded easement created by long-term use (prescriptive)
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
A non-possessory right to use another person's land for a specific purpose.
LienA financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
Title InsuranceInsurance protecting against financial loss from defects in a property's title that existed before closing but were unknown at the time of purchase.
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Related Alaska Questions
- A title search in Alaska examines the public records to:Escrow & Title
- Which of the following title defects would likely NOT be discovered through a standard title search of public records in Alaska?Escrow & Title
- Title insurance in Alaska is typically issued based on a search of:Escrow & Title
- In a preliminary title report for an Alaska property, Schedule B exceptions typically include:Escrow & Title
- An Alaska buyer's agent discovers that the property has an unrecorded easement. The agent's duty is to:Agency
- An Alaska lender requires title insurance as a condition of making a mortgage loan. The cost is typically paid by:Finance
- Which of the following BEST describes a 'prescriptive easement' in Alaska?Property Ownership
- An Alaska purchase agreement provides that the buyer may cancel the contract if the property fails a home inspection for any reason. This type of contingency is called a(n):Contracts
Key Terms to Know
Insurance protecting against financial loss from defects in a property's title that existed before closing but were unknown at the time of purchase.
EasementA non-possessory right to use another person's land for a specific purpose.
LienA financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
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.
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