Problem of the Week: Boundary Law TermsA grantor and grantee are in the closing stages of the transfer of real property. A third party holds a grant that will be delivered only when all of the conditions for the transfer are complete. Which of the following terms describes the third party?
(A) a scrivener
(B) an escrow agent
(C) a disseisor
(D) a remainderman
The grantor places the deed with an escrow agent to be held until all conditions of the sale contract are fulfilled.
The answer is (B)
This is problem 1 (3-1) from the NEW third edition of “Surveying Solved Problems for the FS and PS Exams” by Jan Van Sickle, PLS (formerly "1001 Solved Surveying Fundamentals Problems"). Reprinted with permission from “Surveying Solved Problems for the FS and PS Exams” by Jan Van Sickle, PLS (2008 Professional Publications Inc.). For details on this and other FLS exam-prep books, call 800/426-1178 or visit www.ppi2pass.com.