Escrow & Title
A title that is 'marketable' means:
AThe property is listed on a multiple listing service
BThe title is free from reasonable doubt and a buyer can be reasonably certain of valid ownership✓ Correct
CThe property has been recently appraised at market value
DThe title is guaranteed by the government
Explanation
A marketable title is one that a reasonably prudent buyer would accept—free from unreasonable risk of litigation and reasonable doubt about the seller's right to convey clear ownership.
Related Arkansas Escrow & Title Questions
- The purpose of a title commitment (preliminary title report) is to:
- Which of the following BEST describes a 'cloud on title'?
- A lender's title insurance policy protects:
- In an escrow closing, the escrow agent's primary duty is to:
- In an escrow, the escrow agent's primary duty is to:
- A title search is performed to:
- In Arkansas, recording a deed provides:
- The right of redemption allows a defaulting borrower to:
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