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With a clear title, there’s no doubt who the owner of the property is, or who can claim legal ownership of the property. To get a mortgage, lenders require a thorough title search of local ...
Clear title is the phrase used to state that the owner of real property owns it free and clear of encumbrances. In a more limited sense, it is used to state that, although the owner does not own clear title, it is nevertheless within the power of the owner to convey clear title. For example, a property may be encumbered by a mortgage. This ...
For example, a title report may also show any easements, or recorded encumbrances against the property or portions of the property. A previous owner may have legally given a neighbor the right to share the driveway, or the city may have a right to strips of the property for putting power lines, communication lines, water pipes, or sewer pipes.
A land patent is a form of letters patent assigning official ownership of a particular tract of land that has gone through various legally-prescribed processes like surveying and documentation, followed by the letter's signing, sealing, and publishing in public records, made by a sovereign entity.
A title search is the process in which a title company or attorney examines public records to make sure that there are no claims, liens or issues with a property that could result in another ...
A warranty deed is a type of deed where the grantor (seller) guarantees that they hold clear title to a piece of real estate and has a right to sell it to the grantee (buyer), in contrast to a quitclaim deed, where the seller does not guarantee that they hold title to a piece of real estate.
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A unit of real estate or immovable property is limited by a legal boundary (sometimes also referred to as a property line, lot line or bounds). The boundary (in Latin: limes ) may appear as a discontinuation in the terrain: a ditch, a bank, a hedge, a wall, or similar, but essentially, a legal boundary is a conceptual entity, a social construct ...
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