Escrow & Title
What does 'escrow' mean in a California real estate transaction?
AA loan from a bank to a buyer
BA neutral third party holding funds and documents until conditions are met✓ Correct
CA type of property deed
DThe commission paid to a real estate agent
Explanation
Escrow is a neutral depository where funds, documents, and instructions are held by a third party until all conditions of the sale are met and closing can occur.
Related California Escrow & Title Questions
- In California, who typically acts as the escrow holder in a real estate transaction?
- What is a warranty deed?
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- Which of the following is an involuntary lien?
- A title company discovers a 'gap' in the chain of title. This means:
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- Which of the following is considered an involuntary lien?
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