Escrow & Title
A Massachusetts property closes and the deed is not immediately recorded. Who is at risk from delayed recording?
AThe seller, because they may be liable for taxes
BThe buyer, because a subsequent purchaser who records first could take priority✓ Correct
CThe lender, because the mortgage cannot be enforced
DThe closing attorney, because they must record the same day
Explanation
Under Massachusetts recording law, a buyer who delays recording their deed is at risk of a subsequent purchaser (without notice of the prior sale) who records first taking priority. Prompt recording is essential.
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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).
Abstract of TitleA condensed history of a property's title, summarizing all recorded documents and encumbrances affecting it from the earliest record to the present.
ProrationThe division of ongoing property expenses (taxes, HOA dues, rents) between buyer and seller at closing based on their respective days of ownership.
ContingencyA condition in a purchase contract that must be satisfied before the sale can proceed to closing.
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