Escrow & Title
Washington uses a deed of trust instead of a mortgage, which means the lender's primary remedy upon default is:
AJudicial foreclosure requiring a court proceeding
BNon-judicial (trustee's sale) foreclosure✓ Correct
CEviction of the borrower
DAssignment of the property to the state
Explanation
Washington's deed of trust allows for non-judicial (trustee's sale) foreclosure, which is faster and less expensive than judicial foreclosure. The trustee sells the property without requiring court involvement.
Related Washington Escrow & Title Questions
- A title insurance policy exception for 'taxes and assessments not yet due and payable' means the policy:
- The Washington Escrow Agent Registration Act (RCW 18.44) regulates which entities?
- In Washington, an escrow agent's primary duty is to:
- In Washington, a notice of trustee's sale must be recorded and mailed to the borrower at least how many days before the sale?
- In Washington, title insurance typically does NOT cover which of the following risks?
- In a Washington escrow closing, the escrow agent may NOT:
- A Washington title search reveals a 'gap' in the chain of title — a period where there is no recorded conveyance. This 'gap' is:
- In Washington State, closings are typically handled by:
Practice More Washington Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Washington Quiz →