Escrow & Title
What is the difference between 'closing' and 'recording' in an Idaho real estate transaction?
AThey are the same event
BClosing is when all documents are signed and funds exchanged; recording is when the deed and deed of trust are filed with the county recorder, providing constructive notice✓ Correct
CRecording happens first; closing happens second
DClosing is the lender's approval; recording is IREC's approval
Explanation
Closing (settlement) is the process of signing documents, paying funds, and meeting all contract conditions. Recording is the subsequent act of filing the deed and deed of trust with the county recorder's office. Recording gives constructive notice of the new ownership and lien, protects the buyer's and lender's interests, and establishes priority under Idaho's race-notice recording system.
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