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Which of the Following Would Not Be Included in Closing

question 1

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Which of the following would not be included in closing costs?


Definitions:

State Law

State law consists of the laws and regulations enacted by the legislative bodies or established by the courts of a specific state.

Liability

Liability refers to the legal responsibility for one's actions or omissions, which may result in being required to compensate for damage or harm caused.

Security

A financial instrument that represents an ownership position in a publicly-traded corporation (stock), a creditor relationship with a governmental body or a corporation (bond), or rights to ownership as represented by an option.

Business License

Official permission from a governmental authority allowing individuals or companies to conduct business within a certain jurisdiction.

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