Escrow & Title
In South Carolina, which party to a transaction has a legal obligation to ensure the closing is conducted by a licensed attorney?
AThe buyer only
BThe real estate agents, lenders, and parties must ensure attorney involvement✓ Correct
COnly the lender
DSCREC enforces this requirement independently
Explanation
South Carolina's attorney-at-closing requirement means that all parties (agents, lenders, buyers, and sellers) must ensure a licensed South Carolina attorney supervises or conducts the closing.
Related South Carolina Escrow & Title Questions
- In South Carolina, the deed transfer tax (deed recording fee) is charged at what rate?
- In South Carolina, what is 'proration' at closing?
- Which type of title conveys title without any warranties in South Carolina?
- South Carolina is an 'attorney state' for real estate closings. This means:
- In South Carolina, an escrow account held by a broker must:
- In South Carolina, which party typically pays for the lender's title insurance policy?
- What is the difference between a 'mortgage' and a 'deed of trust' as security instruments in South Carolina?
- In South Carolina, who is typically responsible for paying for the owner's title insurance policy?
Practice More South Carolina Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free South Carolina Quiz →