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The state of California has a standardized reporting format for the seller and their agent to comply with the law, as it is their responsibility to disclose. The seller and their agent are allowed to seek out a 'third party' (disclosure company, licensed engineer, land surveyor, geologist, or expert in natural hazard discovery) to prepare this ...
In the United States, a seller disclosure statement is a form disclosing the seller's knowledge of the condition of the property. The seller disclosure notice or statement is anecdotal and does not serve as a substitute for any inspections or warranties the purchaser may wish to obtain. It also does not serve as a warranty of any kind. [1]
In real estate, clear title and clean title are used interchangeably to refer to a home title that is free of liens or other issues. Yes, it’s possible to buy a home without clear title, but it ...
The objective of the title search is to establish clear, marketable title by exposing any outstanding claims prior to the transfer of title. The process of resolving any issues on the title is known as "clearing the title." [2] Each recorded document must name the parties involved, e.g., grantor and grantee.
The price to conduct the title search alone often ranges between $75 and $100, or sometimes up to $200, and can be paid for by either the buyer or the seller (who covers this fee is often negotiated).
There are other forms of security over goods such as a pledge and contractual lien which also only give right to a security interest of a possessory nature. An example of a conditional bill of sale can be found where a creditor gives a loan and has transferred to himself, as collateral or security for the loan, the title of the goods or other ...
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 ...
A chain of title is the sequence of historical transfers of title to a property. 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.
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