Escrow & Title
In Georgia, real estate closings are typically conducted by:
AThe listing broker
BA licensed Georgia real estate attorney✓ Correct
CThe title insurance company representative only
DGREC-certified closing specialists
Explanation
Georgia is an attorney-closing state. Real estate closings must be conducted (or supervised) by a licensed Georgia attorney.
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Key Terms to Know
Title Insurance
Insurance protecting against financial loss from defects in a property's title that existed before closing but were unknown at the time of purchase.
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.
EscrowA neutral third-party arrangement where funds, documents, and instructions are held until all conditions of a real estate transaction are satisfied.
DeedA written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
State-Specific Concepts
GREC Regulation
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