Escrow & Title
A Kentucky title company discovers a gap in the chain of title (a missing deed). To resolve this, the title company may require the seller to obtain a:
AQuitclaim deed from any potential claimant
BCourt judgment quieting title✓ Correct
CSurvey of the property
DAppraisal report
Explanation
A gap in the chain of title creates uncertainty about ownership. A quiet title action is a court proceeding that establishes clear ownership and eliminates competing claims.
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Key Terms to Know
Deed
A written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
Chain of TitleThe sequential record of all transfers of ownership for a piece of property from the original patent holder to the present owner.
AppraisalA professional estimate of a property's market value prepared by a licensed or certified appraiser.
EasementA non-possessory right to use another person's land for a specific purpose.
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