Escrow & Title
At a Georgia real estate closing, who typically disburses funds to the seller, payoff lenders, and other parties?
AThe listing broker
BThe closing attorney✓ Correct
CGREC's closing division
DThe title insurance company directly
Explanation
In Georgia's attorney-closing system, the closing attorney disburses funds, records the deed and Security Deed, and coordinates the legal aspects of closing. The attorney ensures all liens are paid and title is properly transferred.
Related Georgia Escrow & Title Questions
- In Georgia, an 'abstract of title' is a:
- The ALTA (American Land Title Association) title insurance policy provides more protection than a standard policy by including coverage for:
- A general warranty deed in Georgia provides which of the following covenants?
- The Closing Disclosure (CD) must be provided to the borrower at least how many business days before closing?
- An abstract of title in Georgia is:
- When a Georgia borrower pays off their mortgage (security deed), the lender must execute and deliver a:
- The HUD-1 Settlement Statement has been replaced for most mortgage transactions by:
- The Georgia Security Deed (also called a Deed to Secure Debt) differs from a mortgage because:
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