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
Derogative term describing a high-pressure telemarketing office where sales personnel often use extremely exaggerated claims as well as intense sales practices to convince targets clients ...
Unfortunately, we encounter false advertising daily. False advertising refers to deceptive or misleading ads and commercials that fail to showcase a product’s or service’s ...
Type of ownership by husband and wife, recognized in 27 states, in which the rights of the deceased spouse pass to the survivor. It is the same as joint tenancy, except that one spouse ...
Platform erected on a roof in some New England homes having a view of the sea. It was said widows of lost seaman would walk on the platform looking out at sea for their husbands to return ...
One who has committed a tort. A tort is a civil wrong that occurs as a result of a breach of legal duty owed to someone, e.g., negligence. A tort does not arise from a breach of contract. ...
A purchase of real property made on account. Loan extended to business or individuals to buy real estate. In taxation, a dollar-for-dollar reduction in taxes. An example of a tax ...
The tenant is forced to leave the premises if he complains about the poor condition of the apartment or office space he has leased. This type of eviction is illegal in many states. ...
Descriptive of the architectural development of property in a certain area. For example, a housing subdivision may use very similar building architecture throughout the development. All the ...
Balcony or low ceiling overhang just above the main floor and between the next story. In a theater, a mezzanine is the first balcony above the stage. ...
Have a question or comment?
We're here to help.