Escrow & Title
In Arizona, recording a deed in the county recorder's office serves to:
ACreate the legal transfer of title to the buyer
BProvide constructive notice to the world of the buyer's ownership interest✓ Correct
CComplete the escrow process automatically
DGuarantee that no liens will attach to the property
Explanation
Recording a deed provides constructive notice of ownership. Without recording, subsequent bona fide purchasers for value who record first may have superior rights.
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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).
LienA financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
EscrowA neutral third-party arrangement where funds, documents, and instructions are held until all conditions of a real estate transaction are satisfied.
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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