Escrow & Title
What does 'chain of title' mean?
AThe sequence of inspections required before closing
BThe unbroken sequence of recorded ownership transfers from the original owner to the current owner✓ Correct
CThe list of liens on the property
DThe order in which documents are signed at closing
Explanation
The chain of title is the chronological sequence of recorded documents (deeds, mortgages, and other instruments) tracing ownership of a property from the original patent or grant to the current owner.
Related New York Escrow & Title Questions
- In New York, a 'chain of title' problem that can be discovered through a thorough title search includes which of the following?
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- In New York, 'recording fees' paid at closing are charged by:
- In New York, when a buyer takes title 'subject to' an existing mortgage (without assuming it), the buyer:
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- In New York, 'closing adjustments' (prorations) at a residential closing typically cover which of the following?
- In New York, an 'encroachment' discovered during a title search typically results in:
- A 'title search' in a New York transaction typically covers how many years of ownership history?
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