|
||
|
||
| Home | Ask Your Question | Mortgage Glossary | ||
TitleTitle is a legal term for an owner's interest in a piece of property. It may also refer to a formal document that serves as evidence of ownership. Conveyance of the document may be required in order to transfer ownership in the property to another person. Title is distinct from possession, a right that often accompanies ownership but is not necessarily sufficient to prove it. In many cases, both possession and title may be transferred independently of each other. A title should be examined for any recorded liens. An encumbered title is one that has recorded liens against it. An Unencumbered title is also known as a “clean title”, being free of liens. |
|
||||||
|
|
>>>> |
 |
<<<< | ||||
Books about: |
|||||||
|
|
Search More Info On: |
|
|
Related Mortgage Definitions: Title Insurance Title Insurance A policy, issued by a title insurance company, which insures a home buyer against errors in the title search. The cost of the policy is usually a function of the value of the property, and is often borne by the purchaser and/or seller. Policies are also available ... more... Title Title Title is a legal term for an owner's interest in a piece of property. It may also refer to a formal document that serves as evidence of ownership. Conveyance of the document may be required in order to transfer ownership in the property to another person. Title is ... more... Untitled Document Abstract of Title A summary provided by a title insurance company of public records affecting the title to a property. An attorney or a title company will review an abstract of title to determine if there are any ... more... Deed Deed A written document by which title to real property is transferred from one owner to another. The deed should contain an accurate description of the property being conveyed, should be signed and witnessed according to the laws of the ... more... |
||
