Escrow & Title
A Kansas seller's attorney conducts a title examination. The attorney discovers an open mortgage from 1995 that was paid off but never released. The seller should:
AProceed with the sale and let the buyer deal with it
BObtain a mortgage release (satisfaction of mortgage) from the lender before closing✓ Correct
CAsk the buyer to accept title with the open mortgage
DFile a quiet title action only if the buyer objects
Explanation
Before closing, the seller must clear all liens and encumbrances from title, including obtaining a formal release (satisfaction of mortgage) for any paid-off mortgages that were never formally discharged.
Related Kansas Escrow & Title Questions
- In Kansas, which document is typically used to transfer title from seller to buyer?
- What is a 'HUD-1 Settlement Statement' and when was it replaced in Kansas?
- The purpose of recording a deed in the Kansas county register of deeds is to:
- In Kansas, the priority of liens is generally determined by:
- In Kansas, an IRS Form 1099-S at closing reports:
- What is 'constructive notice' in Kansas real estate law?
- In Kansas, a 'boundary survey' is different from an 'improvement location certificate' (ILC) in that a boundary survey:
- What is the purpose of a 'title search' vs. 'title insurance' in a Kansas real estate transaction?
Practice More Kansas Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Kansas Quiz →