In NC, which party is responsible for conducting the title search prior to closing?
Why The licensed attorney supervising the closing Is Correct
Answer C: The licensed attorney supervising the closing
Exam Tip: Escrow & Title
Escrow questions test the neutral third-party role and the sequence of closing events. Remember that the escrow agent acts as a dual agent for both buyer and seller and cannot advocate for either side.
Key Escrow & Title Terms in This Question
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- A North Carolina attorney issues a title opinion (certificate of title) to:Escrow & Title
- Under NC's NC Offer to Purchase, who is responsible for paying the buyer's closing costs (loan origination fees, title insurance, etc.) by default?Contracts
- At the NC closing table, the closing attorney is responsible for all EXCEPT:Escrow & Title
- North Carolina is an 'attorney closing state,' which means:Escrow & Title
- A 'title search' in NC involves:Escrow & Title
Key Terms to Know
Insurance protecting against financial loss from defects in a property's title that existed before closing but were unknown at the time of purchase.
Abstract of TitleA condensed history of a property's title, summarizing all recorded documents and encumbrances affecting it from the earliest record to the present.
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.
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