The Role of Escrow and Title Insurance Companies

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

Escrow companies are primarily under the jurisdiction of the:

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

The closing statements the buyer and seller get from escrow:

Which of the following is false?

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

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

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:

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

On aclosing statement, due and unpaid taxes would be:

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

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

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

An escrow company may:

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.

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.

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

A standard policy of title insurance covers:

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

Recording costs on an escrow would be paid by:

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

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

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

The term binding contract and conditional delivery describes:

Title insurance is not available if:

A buyer would get the least protection from:

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

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

A preliminary title report:

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

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:

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

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

Impounds refers to:

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

An escrow prorates based on ___ days in a year.

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

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

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

Escrow would be automatically canceled by:

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

The broker's commission is normally paid:

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

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:

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

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

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

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

An impound account would belong to:

The Rebate Law:

Which of the following will not terminate an escrow?

A standard policy of title insurance does not cover: