Escrow & TitleIntermediateDelaware Exam
Delaware is considered an 'attorney closing state,' which means:
AOnly attorneys may represent buyers in real estate transactions
BThe closing must be conducted or supervised by a licensed attorneyCorrect
CAll deeds must be drafted by an attorney
DAttorney review of contracts is mandatory before signing
Why The closing must be conducted or supervised by a licensed attorney Is Correct
Answer B: The closing must be conducted or supervised by a licensed attorney
Delaware is an attorney closing state, meaning that the closing of a real estate transaction must be conducted or supervised by a licensed Delaware attorney.
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
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