Escrow & Title
A 'confirmation of sale' or 'affidavit of consideration' in Arkansas is sometimes required to:
AConfirm the buyer's identity
BVerify the purchase price for transfer tax calculation and public record purposes✓ Correct
CConfirm the property's assessed value
DConfirm MLS membership
Explanation
An affidavit of consideration (or similar form) filed with the deed verifies the purchase price for transfer tax computation and public record purposes in Arkansas.
Related Arkansas Escrow & Title Questions
- A buyer who purchases property in good faith, pays value, and records before other claimants in a race-notice state is protected because of:
- A judgment lien attaches to real property when:
- In an escrow closing, the escrow agent's primary duty is to:
- Recording a deed in Arkansas serves primarily to:
- Which of the following BEST describes a 'cloud on title'?
- In Arkansas, a valid deed requires all of the following EXCEPT:
- To be recorded in Arkansas, a deed must be:
- Which document transfers legal title from the seller to the buyer in a real estate transaction?
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