Which of the Following Is a Recurring Closing Cost

question 12

Multiple Choice

Which of the following is a recurring closing cost?

• A) Fire insurance
• B) Recording fees
• C) Notary fees
• D) Appraisal fee

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Definitions:

Insurance Contract

A legally binding agreement between an insurer and the insured, detailing the terms for the payment of claims under certain conditions.

Securities Act

A law or legislation that regulates the issuance and sale of securities to protect investors against misrepresentation, deceit, and other frauds.

Proxy

A document evidencing the transfer of a shareholder’s voting right to an appointee, either with instructions for voting, or allowing discretion to be exercised by the appointee, at a meeting of shareholders of the corporation.

Transferred Right

Involves transferring a legal right from one party to another, which could include property rights, contractual rights, or other legal entitlements.