Escrow & Title
In a Mississippi simultaneous closing (double closing), which of the following is TRUE?
ABoth transactions occur at the same time with two sets of closing documents✓ Correct
BOnly one deed is needed for both transactions
CThe intermediate buyer never needs their own funds
DSimultaneous closings are prohibited by MREC
Explanation
In a simultaneous (double) closing, two separate transactions close on the same day: the investor buys from the original seller (first closing) and immediately sells to the end buyer (second closing). Each transaction has its own closing documents.
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