Escrow & Title
Marketable title means that the title:
AIs insured by a title insurance company
BIs reasonably free of encumbrances and defects that a reasonable buyer would object to✓ Correct
CHas been conveyed by general warranty deed
DHas been recorded for at least 10 years without challenge
Explanation
Marketable title is title that is sufficiently clear that a reasonable, informed buyer would accept it. It need not be perfect, but it must be free of encumbrances or defects that could expose the buyer to litigation or loss.
Related Arkansas Escrow & Title Questions
- A buyer's closing costs typically include which of the following?
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