Title Defect
Title deficiency that prevents a seller from successfully transferring property to a buyer. A title company may discover a title defect ( due to encumbrances against the property or failure of a former co-owner of the property to sign a deed transferring the title, etc.) in preparation for a closing, effectively blocking the sale of the property until the defect is resolved.
Popular Real Estate Terms
Dehydrated gypsum that is mixed with water to form a rapidly setting material. Plaster of paris sets too rapidly to be practical for most building applications, but it is useful for ...
A recorded plat defines a subdivision map that you have to file in the county recorder’s office. It will show the location and boundaries of your parcels of land. Knowing this, we can ...
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Statement filed with a governmental authority declaring property a homestead for the purposes of securing a homestead exemption. The declaration of homestead has no effect on the property ...
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The definition of an open-end mortgage underlines the fact that the mortgage or trust deed can be increased by the mortgagee (borrower). The mortgagee may secure additional money from the ...
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