Escrow & Title
In Tennessee, who is typically responsible for ordering the title search in a residential transaction?
AThe seller's agent
BThe buyer or buyer's attorney/title company✓ Correct
CTREC
DThe county register of deeds
Explanation
In Tennessee, the buyer (or their attorney or title company) typically orders the title search to ensure the seller has marketable title and to identify any liens or encumbrances before closing.
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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).
EncumbranceAny claim, lien, charge, or liability attached to real property that affects its value or limits its use.
LienA financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
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.
State-Specific Concepts
TREC Regulation
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