Escrow & Title
In Michigan, 'chain of title' refers to:
AA list of all liens on a property
BThe chronological sequence of recorded ownership transfers and other instruments affecting a property from its original grant to the present✓ Correct
CA description of the physical condition of the property over time
DA series of related real estate transactions by one owner
Explanation
Chain of title is the sequential history of all recorded conveyances, encumbrances, and other instruments affecting a property from its original grant (often from the U.S. government to the first private owner in Michigan) to the present owner.
Related Michigan Escrow & Title Questions
- In Michigan, a preliminary title report identifies all of the following EXCEPT:
- In Michigan, which encumbrance does NOT affect the physical use of a property?
- A 'cloud on title' in Michigan refers to:
- In Michigan, a 'buyer's title policy' (owner's policy) is typically paid by:
- A warranty deed in Michigan conveys property with a guarantee that the grantor:
- In Michigan, a 'hold harmless' clause in a real estate purchase agreement typically protects the broker by:
- A Michigan warranty deed provides the grantee with which covenants?
- In Michigan, who typically performs the title search and closing?
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