A 'chain of title' in Colorado refers to:
Why The chronological history of title transfers and encumbrances recorded for a property Is Correct
Answer B: The chronological history of title transfers and encumbrances recorded for a property
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.
Key Escrow & Title Terms in This Question
A non-possessory right to use another person's land for a specific purpose.
EncumbranceAny claim, lien, charge, or liability attached to real property that affects its value or limits its use.
Chain of TitleThe sequential record of all transfers of ownership for a piece of property from the original patent holder to the present owner.
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- In Colorado, when a buyer takes title 'subject to' an existing mortgage, the original borrower:Escrow & Title
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Key Terms to Know
The sequential record of all transfers of ownership for a piece of property from the original patent holder to the present owner.
EasementA non-possessory right to use another person's land for a specific purpose.
EncumbranceAny claim, lien, charge, or liability attached to real property that affects its value or limits its use.
Abstract of TitleA condensed history of a property's title, summarizing all recorded documents and encumbrances affecting it from the earliest record to the present.
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