Escrow & Title
In Maine, when does legal ownership of real property pass from seller to buyer?
AWhen the purchase agreement is signed
BWhen the deed is delivered and accepted by the buyer✓ Correct
CWhen the closing disclosure is signed
DWhen the mortgage is recorded
Explanation
Legal ownership transfers when the seller delivers and the buyer accepts the deed. Recording the deed provides constructive notice to third parties but is not required for the transfer between the parties themselves to be effective.
Related Maine Escrow & Title Questions
- In Maine, where are real estate deeds recorded to provide constructive notice?
- A Maine buyer's title insurance premium is typically a one-time charge paid:
- A Maine title search reveals a mechanic's lien filed 18 months ago. The seller claims the contractor was paid. The proper resolution before closing is:
- In Maine, a deed must be delivered to and accepted by the grantee to be effective. If a grantor signs a deed but keeps it in a safe deposit box, the deed:
- In Maine, title insurance protects the policyholder against:
- In Maine, a subordination agreement allows a:
- Earnest money that is properly held in a broker's trust account must be:
- In Maine, a seller's failure to disclose known material defects may expose them to liability for:
Practice More Maine Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Maine Quiz →