Escrow & Title
An 'abstract of title' in NC is best described as:
AA certificate of title insurance
BA condensed summary of the recorded documents in a property's chain of title✓ Correct
CA survey of the property boundaries
DA list of current property taxes
Explanation
An abstract of title is a condensed historical summary of the recorded documents affecting a property's title, prepared for an attorney to render a title opinion.
Related North Carolina Escrow & Title Questions
- Which of the following would appear as a buyer's debit on a closing disclosure?
- In a NC residential transaction, who typically pays the owner's title insurance premium?
- In NC, which type of title insurance coverage provides the broadest protection for the buyer?
- Which type of deed conveys whatever interest the grantor has, with no warranties?
- North Carolina is an 'attorney closing state,' which means:
- In NC, a 'short sale' occurs when:
- The trustee in a North Carolina deed of trust holds:
- Priority of liens in North Carolina is generally determined by:
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