Unit 4: Public Recording System Flashcards
Who regulates the recording of policies and procedures?
State laws
T/F Recordings prove the validity of the document.
False. Recordings do not prove the validity of the document.
T/F A deed does not have to be recorded to be valid.
True
What is the public provided with when a real estate document is recorded?
Constructive notice of the document’s content.
What types of documents are usually recorded?
CLEMDD
Deeds, mortgages, deeds of trust, contracts for deed, easements, and long-term leases.
T/F Recorded documents do not need to be signed.
False. Recorded documents should be executed (signed).
Most states even require the document to be acknowledged (notarized).
T/F A deed that is not recorded lacks constructive or legal notice of ownership.
True.
What is subordination?
A clause in a mortgage/deed of trust in which the lender permits a subsequent mortgage to take or change priority.