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A real estate transaction is the process whereby rights in a unit of property (or designated real estate) are transferred between two or more parties, e.g. in the case of conveyance one party being the seller(s) and the other being the buyer(s). It can often be quite complicated due to the complexity of the property rights being transferred ...
Land registration is a matter for individual states in the USA. Thus each state will define the officials, authorities, and their functions and duties with respect to the ownership of land within that state, as is more fully described in the specified main article.
An abstract of title is the condensed history of the title to a particular parcel of real estate, consisting of a summary of the original grant and all subsequent conveyances and encumbrances affecting the property and a certification by the abstractor that the history is complete and accurate.
Physical real estate ownership also involves a significant amount of time and expertise. Johnson said, “Additionally, when investing in physical real estate, the properties need to be managed ...
Torrens title is a land registration and land transfer system, in which a state creates and maintains a register of land holdings, which serves as the conclusive evidence (termed "indefeasibility") of title of the person recorded on the register as the proprietor (owner), and of all other interests recorded on the register.
Here are 15 real estate terms you need to know. Real Estate Agent Professional who represents the seller (listing agent) or buyer (buyer’s agent) in a real estate transaction.
The process and mechanics of ownership are fairly complex: one can gain, transfer, and lose ownership of property in a number of ways. To acquire property one can purchase it with money , trade it for other property, win it in a bet, receive it as a gift , inherit it, find it, receive it as damages , earn it by doing work or performing services ...
It is a valuable tool to identify and document past owners of a property and serves as a property's historical ownership timeline. The "chain" runs from the present owner back to the original owner of the property. In situations where documentation of ownership is important, it is often necessary to reconstruct the chain of title.