Chapter 2 Escrow || Solved Correctly.
An _____ is created when a separate written agreement instructs a neutral third party to hold
funds and only proceed when all the agreed to conditions have been performed. In California, an
______ is usually a requirement for the sale of a home or other real estate. correct answers
Escrow
gives the buyer protection against a wide variety of problems arising from faulty deeds. correct
answers title insurance
____ is a deposit of money and instruments by two or more persons with a neutral third person,
which are held by that person. until certain conditions are met correct answers escrow
A _____ is the agent of the respective parties until the escrow closes.
The third person is the escrow holder. correct answers Stakeholder
The ____ advise the escrow holder how to make the arrangements for completing the transaction
correct answers escrow instructions
An escrow allows the buyer and seller to deal with each other without risk because the
responsibility for handling all funds and documents lies with the _____ correct answers escrow
holder
Escrows are ____ required by law for most residential sales. They are required by state law for
transactions involving the court-ordered sale or transfer of property which is being probated in
____. It must also be used in sales or transfers of liquor licenses, negotiable securities, and
impound accounts. correct answers not
court
Escrows required by law correct answers 1. probated property
, 2. liquor licenses
3. impound accounts
4. negotiable securities
Escrows are highly recommended and nearly always used in the ____ or ____ of land and
businesses in California correct answers sale
transfer
Escrows Recommended correct answers 1. Sales of Real Property
2. Exchanges
3. Loans
land and those things affixed to it. correct answers Real Property
anything which can be owned or possessed that is not real property. correct answers personal
property
chattels correct answers personal property
stock portfolios, money, and evidences of debt can be classified as? correct answers personal
property
Escrows are a legal process. The buyer and seller usually sign a purchase agreement that may
also contain escrow ______. correct answers instructions
Valid Contracts must have? correct answers 1. Capable parties
2. Mutual consent & writing
3. Lawful nature
4. sufficient consideration
An _____ is created when a separate written agreement instructs a neutral third party to hold
funds and only proceed when all the agreed to conditions have been performed. In California, an
______ is usually a requirement for the sale of a home or other real estate. correct answers
Escrow
gives the buyer protection against a wide variety of problems arising from faulty deeds. correct
answers title insurance
____ is a deposit of money and instruments by two or more persons with a neutral third person,
which are held by that person. until certain conditions are met correct answers escrow
A _____ is the agent of the respective parties until the escrow closes.
The third person is the escrow holder. correct answers Stakeholder
The ____ advise the escrow holder how to make the arrangements for completing the transaction
correct answers escrow instructions
An escrow allows the buyer and seller to deal with each other without risk because the
responsibility for handling all funds and documents lies with the _____ correct answers escrow
holder
Escrows are ____ required by law for most residential sales. They are required by state law for
transactions involving the court-ordered sale or transfer of property which is being probated in
____. It must also be used in sales or transfers of liquor licenses, negotiable securities, and
impound accounts. correct answers not
court
Escrows required by law correct answers 1. probated property
, 2. liquor licenses
3. impound accounts
4. negotiable securities
Escrows are highly recommended and nearly always used in the ____ or ____ of land and
businesses in California correct answers sale
transfer
Escrows Recommended correct answers 1. Sales of Real Property
2. Exchanges
3. Loans
land and those things affixed to it. correct answers Real Property
anything which can be owned or possessed that is not real property. correct answers personal
property
chattels correct answers personal property
stock portfolios, money, and evidences of debt can be classified as? correct answers personal
property
Escrows are a legal process. The buyer and seller usually sign a purchase agreement that may
also contain escrow ______. correct answers instructions
Valid Contracts must have? correct answers 1. Capable parties
2. Mutual consent & writing
3. Lawful nature
4. sufficient consideration
