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Merchantable title and marketable title are synonymous terms. In the absence of an agreement to the contrary, there is an implied undertaking in the contract that the vendor (person selling the property) has a marketable title. The contract typically provides that on failure of a vendor to deliver good and marketable title, the vendee (buyer ...
Here’s what it means to have clear title. ‘Clear title’ meaning. A clear title, also known as a “clean title,” is a property title that is free from liens or additional issues that could ...
If the title says the first person's name followed by the word "and" before listing the second person's name, then both parties must sign the vehicle title. 2. Create a Bill of Sale
Allodial title is related to the concept of land held in allodium, or land ownership by occupancy and defence of the land. Most property ownership in common law jurisdictions is fee simple . In the United States, the land is subject to eminent domain by federal, state and local government, and subject to the imposition of taxes by state and/or ...
Clouded title can cause delays or denials in receiving certain forms of disaster recovery aid, especially longer-term rebuilding assistance. This can be a more serious problem for low-income families who over time might not have been able to afford lawyers and legal fees for probate , and who can face even worse financial problems in the wake ...
An individual with very low insurability may be said to be uninsurable, and an insurance company will refuse to issue a policy to such an applicant. [3] For example, an individual with a terminal illness and a life expectancy of 6 months would be uninsurable for term life insurance. This is because the probability is so high for the individual ...
- Using your car for commercial use can make it uninsurable; lying or omitting information can get your insurance canceled. Using your personal vehicle for commercial purposes, such as deliveries ...
A retention of title clause (also called a reservation of title clause or a Romalpa clause in some jurisdictions) is a provision in a contract for the sale of goods that the title to the goods remains vested in the seller until the buyer fulfils certain obligations (usually payment of the purchase price).