Escrow & Title
In New Jersey, the document that formally transfers ownership of real property from seller to buyer at closing is the:
AMortgage note
BDeed✓ Correct
CTitle commitment
DSettlement statement
Explanation
A deed is the legal instrument that conveys title to real property in New Jersey. The seller (grantor) signs the deed, which is then delivered to the buyer (grantee) and recorded with the county clerk's office to provide constructive notice.
Related New Jersey Escrow & Title Questions
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- Under New Jersey's recording statutes, a subsequent good-faith purchaser for value who records first generally prevails over a prior unrecorded deed holder under which recording act principle?
- In New Jersey, a 'deed in lieu of foreclosure' is an arrangement where:
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- A New Jersey property is being sold with an open mortgage lien that must be satisfied at closing. Who is responsible for paying off this existing mortgage?
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