Escrow & Title
In North Dakota, 'title by descent' means property passes to heirs through:
AA deed at closing
BThe laws of intestate succession when a person dies without a valid will✓ Correct
CAn inter vivos (living) trust
DA court-appointed guardian's deed
Explanation
Title by descent (intestate succession) is the transfer of real property ownership to heirs by operation of law when a person dies without a valid will. North Dakota's intestacy statutes specify the order of inheritance.
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Key Terms to Know
Deed
A written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
Title InsuranceInsurance protecting against financial loss from defects in a property's title that existed before closing but were unknown at the time of purchase.
Chain of TitleThe sequential record of all transfers of ownership for a piece of property from the original patent holder to the present owner.
ProrationThe division of ongoing property expenses (taxes, HOA dues, rents) between buyer and seller at closing based on their respective days of ownership.
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