Escrow & Title
In New York, ACRIS (Automated City Register Information System) is used for:
AFiling real estate license applications
BSearching and recording real property documents in New York City✓ Correct
CProcessing mortgage applications
DFiling fair housing complaints
Explanation
ACRIS is the New York City electronic database for searching and filing real property transactions and other documents in the five boroughs. It is maintained by the NYC Department of Finance.
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Key Terms to Know
Deed of Trust
A security instrument used in many states instead of a mortgage, involving three parties: borrower (trustor), lender (beneficiary), and a neutral trustee.
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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