Question: How many title policies are typically issued at a closing?

Answer: Two

Owners policy (benifit of the owner/ buyer) and lenders policy

Question: A buyer who wants to know whether the title for a property is in good standing would order a(n)

Answer: abstract

title policy, will tell you the state of the title and whether any title defects have been found

Question: Which of the following would create a cloud on title

Answer: Misspelling of a grantor’s name, a slight error in the legal description, an incorrect date

Question: What does a suit to quiet title do?

Answer: Resolves clouds on title

Question: All of the following maintain public records EXCEPT

Answer: court secretaries

Question: Which of the following is NOT proof of ownership

Answer: deed

Question: Who is usually responsible for providing marketable title to the property?

Answer: the seller

Question: What is a marketable title?

Answer: A title that has no defects that could carry over as a problem for the new owners at whatever time they decided to sell

Question: Which of the following would cause a cloud on title?

Answer: Missing the name of the grantor, gap in the chain of title, a recorded lien that was paid off but not released

Question: MOST contracts state that the seller is responsible for providing what type of title to the property?

Answer: marketable