Escrow Study guides, Class notes & Summaries

ESCROW FINAL REVIEW Exam Questions And Answers (Verified And Updated) 50 When a buyer assumes an existing loan, he or she signs: - answerB. an assumption agreement with the lender. 51 If the buyer fails to perform in meeting the obligations under the loan the lender will probably file a: - answerNotice of Default 52 A resident can be protected from judgment that become liens by the acknowledgment recording - answerDeclaration of homestead 53 Which of the following is a reference point in...

Escrow Sample Test – Utah Exam Questions And Answers (Verified And Updated) An Escow is an arrangement that: (Select all that apply) (A) holds documents (B) holds funds (C) creates documents to affect a transfer of interest in a property (D) acts as an attorney (E) is responsible for guaranteeing funds - answer(A) holds documents (B) holds funds (C) creates documents to affect a transfer of interest in a property (E) is responsible for guaranteeing funds When is it necessary to hav...

Escrow: Chapter 1 Exam Questions With 100% Correct Answers Escrow - answer(legal process) by which complex sale, exchange, or loan transaction involving real property is brought to completion. Escrows Required by law - answerProbated Property- in court dispute Impound Accounts- Liquor Licenses- Negotiable Securities- Escrows Recommended - answerSales of Real Property Loans Exchanges Real Property - answerland and those things affixed to it (Attached by roots, imbedded, permanently re...

Title Escrow Exam Study Guide Utah Questions With 100% Correct Answers How much can you spend on a special event for a client? - answer$75 Encumbrances - answerA claim, lien, charge, or liability attached to and binding real property Solvency - answerthe possession of assets in excess of liabilities; ability to pay one's debts. Escrow - answeris the process of holding monetary funds by a title agency or bank for the purpose of offering or purchasing real property. Title Insurance - answ...

Escrow Exam Questions And Answers (Verified And Updated) Principle meridian - answerThe north-south lines separating townships 5 ways to acquire property - answerOccupancy Accession Transfer Will Succession Escrow agent - answerany person engaged in the business of receiving escrows for deposit or delivery Metes and bounds - answerA method of land description which involves identifying distances and directions and makes use of both the physical boundaries and measurements of the land...

Escrow and Closing Exam Questions And Answers (Verified And Updated) The best way to discover defects on a title is by: - answera search of title A title search will reveal the chain of title and any defects that may exist against the title. The CLTA standard form title insurance policy insures against - answerforgery of a deed. It insures matters of record not specifically excluded from coverage as well as matters not on record. Items not on record specifically insured against include for...

Title & Escrow Exam Questions With 100% Correct Answers Title & Escrow - answerEscrow and title insurance typically go hand-in-hand together in real estate sales or financing types of transactions. Many times, a title insurance company will offer escrow services as well, or escrow can be offered by a separate company dedicated solely to escrow functions. Escrow is a designated and neutral third party firm that collects money and paperwork from all sides in the real estate transaction prior...

Real Estate Escrow Unit 8 Exam Questions With 100% Correct Answers The escrow holder's agency to the principals - answerescrow's agency to the principals is limited in scope, responsible only for carrying out the duties as specified in the escrow instructions. The escrow holder is not held to the same full disclosure requirements as those of a general agent. If a buyer has signed and returned escrow instructions but the seller has not - answerIf a buyer has signed and returned escrow in...

Utah Producer's Title Escrow Exam Questions With 100% Correct Answers Principal - answerthe person (or entity) that has the real authority Agent - answerPerson (or entity) that acts on the principals behalf The ABC's - answerAssent- an informal agreement between principal and agent Benefit- Agent's actions must be for benefit of the principal Control- Principal must have control over the agent's actions and power to supervise the agent's performance Scope - answerPrincipal Defines t...

Escrow Sample Test Exam Questions With Verified Answers An escrow is an arrangement that: a) Holds documents, b) Holds funds, c) Creates documents to affect a transfer of interest in property, d) is responsible for guaranteeing funds. - answerA, B, C, E When is it necessary to have closing documents recorded prior to disbursement of escrow funds? a) it is not necessary, b) in almost all situations, c) when instructed by one of the parties to the escrow, d) only when the written instructio...