Title Company
An insurer who researches the title to real estate for the purpose of discovering any unknown liens or encumbrances on the property that may have come into effect before the current purchase of the property. Mortgage bankers lending money to home buyers generally require the purchaser to purchase title insurance. If, after the purchase, a recorded encumbrance surfaces that was not discovered by the title company, it is paid by the title company to the insured as a claim
Popular Real Estate Terms
Zoning a portion of land in a given area for different purposes than its surrounding functions. For example, a locality may decide to spot zone a vacant lot in a residential area for ...
Stiff pipe used to cover electrical wiring for safety purposes. ...
Geographic area that is attractive to prospective tenants. Square footage in an office building or apartment house that may be rented by a tenant. ...
Features a home buyer orders from a custom builder or developer when purchasing a home. For example, a customer may order a two-car garage when buying a home requiring an additional charge. ...
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Right of property owner to have his or her property used in satisfying a loan. Written contract of court judgment placing a lien on a parcel of property as collateral for a loan. An ...
Period of time between valuations of property for tax purposes in a given locality. ...
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