Escrow & Title
An abstract of title in Maine is:
AA guarantee of clear title
BA condensed history of all documents affecting title to a property✓ Correct
CThe same as an owner's title insurance policy
DA government document certifying ownership
Explanation
An abstract of title is a compiled summary of all recorded documents (deeds, mortgages, liens, easements) in the chain of title for a property, allowing an attorney to render a title opinion.
Related Maine Escrow & Title Questions
- In Maine, a release of mortgage signed by the lender but not yet recorded in the Registry of Deeds provides:
- A Maine property has a covenant restricting use to residential purposes only. This covenant 'runs with the land,' meaning it:
- A Maine title search reveals that a prior owner used a 'wild deed' to convey title. A wild deed is:
- In Maine, a 'mechanic's lien' can be filed by:
- A Maine condominium purchase requires a review of which additional documents beyond a standard residential closing?
- Which of the following encumbrances would NOT be extinguished at a Maine foreclosure sale?
- In Maine, a 'deed in lieu of foreclosure' occurs when a borrower:
- In Maine, a buyer's earnest money check is made out to the listing broker. If the seller breaches the contract, the earnest money:
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