Recording Acts

Question 1

Corrective Deed

Answer 1

A document used to correct an error in a previously recorded deed

Question 2

Double Escrow

Answer 2

Buyer purchasing a property and selling it on the same day. Some investors will purchase properties and sell it to someone else for more money and close on the same day

Question 3

Escrow Company

Answer 3

Orders loan payoffs, prepares escrow instructions, takes signatures, disburses funds, and arranges for recording of documents

Question 4

Escrow Instructions

Answer 4

Documents in which buyers and sellers hire escrow companies to work on their behalf

Question 5

Marketable Title

Answer 5

Title that is reasonably free from risk of legal dispute over possible defects

Question 6

Recording Acts

Answer 6

Law that provides for the placing of documents in the public records

Question 7

Schedule A

Answer 7

Discloses details about transactions

Question 8

Schedule B

Answer 8

Includes exceptions to the policy that will be issued. This means something that will NOT be covered in the title policy