Escrow & Title
In Montana, when a closing is conducted by mail or remotely (as is common in rural areas), the escrow agent ensures:
AThat all parties must appear in person regardless of distance
BThat all documents are properly executed, notarized as required, and all conditions are met before funds are disbursed✓ Correct
CThat only the buyer signs documents since the seller has already conveyed title
DThat the closing can be conducted without any party signatures
Explanation
Remote closings in Montana follow the same substantive requirements as in-person closings. The escrow agent coordinates the remote signing of documents (with notarization as required), confirms all conditions are met, and disburses funds accordingly.
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Key Terms to Know
Escrow
A neutral third-party arrangement where funds, documents, and instructions are held until all conditions of a real estate transaction are satisfied.
Title InsuranceInsurance 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.
DeedA written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
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