Escrow & Title
In a standard Oregon real estate closing, which document transfers title from seller to buyer?
AThe purchase and sale agreement
BThe deed✓ Correct
CThe closing disclosure
DThe title insurance policy
Explanation
Title to real property transfers from the seller to the buyer through delivery and acceptance of a deed. The purchase agreement is the contract that obligates the parties; the deed is the instrument that actually conveys title at closing.
Related Oregon Escrow & Title Questions
- An Oregon property has both a first and second deed of trust. In a foreclosure of the first deed of trust, what happens to the second deed of trust?
- Which of the following would be found on a Closing Disclosure but NOT in a listing agreement?
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- In Oregon, title to real property passes at the moment of:
- In Oregon, what is a 'contract for deed' (land sale contract) and how does it differ from a mortgage?
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