Escrow & Title
Which document transfers legal title from the seller to the buyer in a real estate transaction?
AMortgage
BDeed✓ Correct
CPurchase agreement
DTitle insurance policy
Explanation
A deed is the legal instrument that transfers title (ownership) from the grantor (seller) to the grantee (buyer). The deed must be delivered to and accepted by the grantee to be effective.
Related Arkansas Escrow & Title Questions
- Which of the following liens has the highest priority in Arkansas?
- A property owner who believes their property was overassessed by the county assessor may:
- A special warranty deed contains the grantor's promise to defend title only against:
- The primary difference between a grant deed and a quitclaim deed is:
- A subordination agreement allows:
- Which party typically pays for the owner's title insurance policy in most Arkansas transactions?
- In an escrow closing, what triggers the disbursement of funds and recording of the deed?
- An escrow agent who disburses funds contrary to the escrow instructions is liable for:
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