Escrow & Title
In Delaware, a title search typically covers how many years of recorded history to establish marketable title?
A10 years
B20 years
C40 years✓ Correct
D60 years
Explanation
A standard title search in Delaware typically covers 40-60 years of recorded history to identify all interests, encumbrances, and defects that may affect the marketability of the title.
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Key Terms to Know
Encumbrance
Any 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.
Title InsuranceInsurance protecting against financial loss from defects in a property's title that existed before closing but were unknown at the time of purchase.
DeedA written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
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