Escrow & Title
In Massachusetts, an attorney must typically be present at a real estate closing because:
AFederal law requires it
BMassachusetts is an attorney-closing state where an attorney certifies title✓ Correct
CThe broker requires legal representation
DTitle companies are prohibited in Massachusetts
Explanation
Massachusetts is an attorney-state for real estate closings. A licensed attorney must conduct the closing, examine the title, and certify that the seller has good and marketable title.
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Key Terms to Know
Title Insurance
Insurance protecting against financial loss from defects in a property's title that existed before closing but were unknown at the time of purchase.
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.
Chain of TitleThe sequential record of all transfers of ownership for a piece of property from the original patent holder to the present owner.
DeedA written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
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