Escrow & Title
Chain of title refers to:
AThe series of recorded documents that trace the transfer of title from the original owner to the present owner✓ Correct
BThe list of liens on a property
CThe sequence of inspections conducted before closing
DThe order in which closing documents are signed
Explanation
Chain of title is the chronological sequence of recorded documents that traces the history of ownership from the original grant to the present owner. A break in the chain can cloud title.
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Key Terms to Know
Chain of Title
The sequential record of all transfers of ownership for a piece of property from the original patent holder to the present owner.
LienA financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
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).
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