What is a 'quiet title action'?
Why A court proceeding to determine and declare the rightful owner of a property and remove any adverse claims or clouds on title Is Correct
Answer A: A court proceeding to determine and declare the rightful owner of a property and remove any adverse claims or clouds on title
Exam Tip: Escrow & Title
Escrow questions test the neutral third-party role and the sequence of closing events. Remember that the escrow agent acts as a dual agent for both buyer and seller and cannot advocate for either side.
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Key Terms to Know
A written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
Chain of TitleThe sequential record of all transfers of ownership for a piece of property from the original patent holder to the present owner.
ProrationThe division of ongoing property expenses (taxes, HOA dues, rents) between buyer and seller at closing based on their respective days of ownership.
EasementA non-possessory right to use another person's land for a specific purpose.
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