Escrow & Title
Missouri's 'torrens system' of land title registration is:
AThe primary system used statewide
BA less-common alternative registration system where a court establishes title and issues a certificate✓ Correct
CRequired for all commercial properties
DAdministered by MREC
Explanation
The Torrens system is an alternative to the traditional recording system where a court adjudicates and registers title, issuing an official certificate. It is available in some Missouri counties but is not widely used compared to the standard recording system.
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Key Terms to Know
Comparable Sales (Comps)
Recently sold properties similar in size, condition, and location used by appraisers and agents to estimate a property's market value.
DeedA written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
EasementA non-possessory right to use another person's land for a specific purpose.
EncumbranceAny claim, lien, charge, or liability attached to real property that affects its value or limits its use.
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