Escrow & Title
What is the purpose of the 'chain of title' examination in a North Dakota real estate transaction?
ATo establish the purchase price history
BTo trace all recorded ownership transfers and verify that the current seller has good, marketable title✓ Correct
CTo identify the property's current zoning classification
DTo determine the property's assessed value
Explanation
A chain of title examination traces ownership from the original grant through all subsequent transfers to the current owner, verifying that each conveyance was properly made and recorded, establishing the current owner's right to sell.
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