A California real estate instructor is explaining the different types of title evidence available to buyers. Which of the following is NOT a recognized form of title evidence in California?
Correct Answer
D) Certificate of title issued by the California Department of Real Estate
The California Department of Real Estate (DRE) does not issue certificates of title for individual property transactions. The DRE regulates real estate licenses and practices, not property title. There is no certificate of title system for real property in California administered by the DRE.
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Related Topics & Key Terms
Key Terms:
Related Concepts
Title insurance is a policy that protects the insured party against financial loss from defects in title that were not discovered during the title search. Unlike other insurance, it covers past events rather than future risks.
A title search is an examination of public records to determine the history of ownership, liens, encumbrances, and other interests affecting a property. It verifies that the seller has the legal right to transfer the property.
A transfer tax is a tax imposed by state, county, or local government on the transfer of real property from one owner to another. It is typically based on the sale price or a flat rate per dollar of consideration.
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Previous Question
In a California transaction, the escrow officer prepares the grant deed for the seller's signature. The seller asks whether the deed must be notarized. The escrow officer correctly explains that:
Next Question
A California buyer discovers that the property she purchased has a cloud on the title — specifically, an old lis pendens from a lawsuit that was resolved years ago but the lis pendens was never expunged from the record. What legal action should the buyer's attorney pursue to resolve this issue?