Escrow & Title
A title search in Georgia examines the chain of title to identify:
AThe property's appraised value
BAny outstanding liens, encumbrances, or defects affecting the title✓ Correct
CThe property's zoning classification
DEnvironmental contamination on the property
Explanation
A title search reviews public records to trace the chain of ownership and identify any liens, judgments, easements, restrictions, or other encumbrances that could affect the buyer's title.
Related Georgia Escrow & Title Questions
- The Closing Disclosure (CD) must be provided to the borrower at least how many business days before closing?
- Georgia's transfer tax (real estate transfer tax) is calculated at a rate of:
- A subordination agreement in real estate allows a later mortgage to:
- A cloud on title refers to:
- Georgia's transfer tax rate is $1 per $1,000 (or fraction thereof) of the consideration. What is the transfer tax on a $275,000 sale?
- In a Georgia real estate transaction, the transfer tax (intangible tax on the security deed) is paid by the:
- A satisfaction of mortgage (or discharge) is recorded when:
- A 'title commitment' (binder) issued before closing is:
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