Closing disclosure
Final loan costs statement (TRID).
Public flashcard set
Real Estate Closing & Title
Settlement day terms.
real-estate exam career
Flashcards
Title insurance
Protects against certain title defects.
Abstract of title
Summary of title history.
Chain of title
Sequence of ownership transfers.
Cloud on title
Claim that impairs marketability.
Quiet title
Lawsuit to clear ownership claims.
Proration
Split taxes/HOA/etc. between parties.
Walk-through
Final pre-closing property check.
Recording
Enter documents in public record.
Constructive notice
Public record notice of interest.
Actual notice
Direct knowledge of a fact.
RESPA
Settlement cost disclosure/anti-kickback law.
Transfer tax
Tax on conveying real property.
Bill of sale
Transfers personal property.