Transfer of PropertyPregunta 97 de 120
A preliminary title report issued before closing primarily:
a.Discloses the current condition of title, including liens and encumbrances
b.Guarantees the property's value
c.Transfers ownership to the buyer
d.Sets the loan interest rate
Explicación
A preliminary title report shows the current state of title, including recorded liens, easements, and other encumbrances, and states the conditions under which the title company will insure. It is an offer to issue a policy, not the policy itself, and is not a guarantee. Buyers review it during the contingency period.
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Preguntas relacionadas de este tema
- California's documentary transfer tax is $0.55 per $500 of value. On a $600,000 sale with no assumed loan, the county transfer tax is:
- A deed in which the grantor makes the fullest express warranties, defending title against all claims, is a:
- The recorded history of successive owners and conveyances of a parcel is called the:
- A valid escrow generally requires a binding contract between the parties and:
- Before a deed can be recorded, the grantor's signature usually must be:
- The documentary transfer tax in California is generally calculated on the:
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