Escrow & Title
In a New York sale-leaseback transaction, the property owner:
ASells the property and simultaneously leases it back from the buyer, continuing to occupy and operate it✓ Correct
BLeases the property first, then buys it back later
CExchanges the property for another of equal value
DDonates the property to the municipality
Explanation
In a sale-leaseback, the owner sells the property to an investor and simultaneously enters into a lease to continue using it. This allows the seller to unlock equity while retaining operational control of the property.
Related New York Escrow & Title Questions
- In New York, a 'construction loan title policy' protects the construction lender against:
- Under New York law, a 'judgment lien' attaches to real property when:
- Recording a deed in New York provides:
- A New York title insurance commitment (binder) is best described as:
- The 'abstract of title' in New York is:
- In New York real estate closings, the 'HUD-1 Settlement Statement' has been replaced for most residential transactions by the:
- In New York, a 'title search' typically covers records going back how many years?
- In New York, which of the following best describes a 'purchase money security interest' (PMSI) in the context of co-op financing?
Practice More New York Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free New York Quiz →