Real estate conveyances Flashcards
1
Q
transfering land is uniquely complex because of ______.
A
the historical importance of the land
2
Q
transferring land requires consideration of ____, _____ and ______law.
A
local, state & fed
3
Q
binder
A
a preliminary understanding by seller & buyer on terms & condition of the sale. (a binder is executed)
4
Q
the sellor’s ownership of the land is confirmed by
A
title search
5
Q
contract is performed at ____?
A
closing
6
Q
property is conveyed at ____?
A
closing
7
Q
steps of a real estate transaction
A
agreement (binder), formal real estate contract, Title search, Closing (escrow)
