What is the difference between 'actual notice' and 'constructive notice' in Delaware property law?
Why Actual notice is direct, firsthand knowledge; constructive notice is the legal presumption of knowledge from properly recorded public records Is Correct
Answer B: Actual notice is direct, firsthand knowledge; constructive notice is the legal presumption of knowledge from properly recorded public records
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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).
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.
Promissory NoteA written promise to repay a loan under specified terms — the borrower's personal financial obligation in a real estate transaction.
EasementA non-possessory right to use another person's land for a specific purpose.
State-Specific Concepts
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