The Role of Escrow and Title Insurance Companies

A title company holding papers for an escrow is a(n):

The exact history of vonveyances and encumbrances affecting title to a property is called:

Closing is scheduled for May 20, 2012; the second property tax installment has been paid. On the buyer's closing statement, taxes are:

A 30 day escrow cannot be completed during the set time.

Which of the following may not engage in the escrow business?

Escrow closes on the 15th day of February (28 days). The seller receives $500 rent for the month of February. The seller:

A fire insurance policy cost $360 for three years. Six-and-a-half months after the insurance policy is taken out, the building is sold, and the policy is assumed. On a closing statement.

A preliminary title report:

A title insurance company is least likely to physically inspect property for:

A broker can, without being licensed as an escrow, handle the escrows on transactions where he or she:

Which of the following, prorated, would be a credit on the seller's closing statement?

The Rebate Law:

In an escrow statement, the term recurring costs pertains to:

A buyer would get the least protection from:

Impounds refers to:

Escrow companies are primarily under the jurisdiction of the:

The signed escrow instructions disagree with the prior purchase contract. As to the disagreement, which of the following is true?

A seller delivers a grant deed to escrow after escrow instructions have been signed. He asks that it be returned to him so that he can have an attorney check it.

Which of the following is not a credit in a seller's closing statement?

A home is sold on August 31, with taxes being prorated.

A sale takes place on January 1. There is $1,800 in the impound account. Proration would be:

The files of a title company of recorded documents on microfilms are known as:

An escrow agent is most likely to get into trouble if he or she:

Which of the following will not terminate an escrow?

In a buyer's closing statement, the selling price is:

Which of the following is not covered by an extended-coverage policy of title insurance?

An escrow officer alters a deed after it has been signed to convey property other than agreed.

Recording costs on an escrow would be paid by:

The closing statements the buyer and seller get from escrow:

Which of the following is false?

A buyer assumes a trust deed. On the buyer's closing statement, it would be shown as a:

A standard policy of title insurance covers:

An escrow company may:

An escrow prorates based on ___ days in a year.

On a real estate closing statement, prepaid rent is always a:

Who has primary responsibility for reporting sale information to the IRS?

In the absence of a closing date, the escrow should close:

An extended-coverage policy of title insurance does not cover:

On aclosing statement, due and unpaid taxes would be:

A broker gets a deal into escrow. After all papers are signed, both the buyer and the seller die. The escrow agent should:

The term binding contract and conditional delivery describes:

A buyer's escrow statement would not show:

On a closing statement, an existing mortgage that is to be assumed by the buyer would be shown as:

Possesion in a real estate sale, in the absence of any aggreement, should be given:

The broker's commission is normally paid:

An item such as "liens to be assumed by buyer" would be found in a seller's closing statement under:

Title insurance is not available if:

A buyer would be protected against a right of a party in possession by:

Title plant refers to all records relative to real estate transactions in a:

To obtain marketable title, a person who is claiming his or her interest under adverse possession could:

An impound account would belong to:

Escrow would be automatically canceled by:

A standard policy of title insurance does not cover:

The usual way for a buyer to ensure that he or she is getting marketable title is to obtain:

On an escrow the daily prorated charge for a three-year insurance policy costing $97.20 would be: