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Title theory
Title theory Some states interpret a mortgage to mean that the lender is the owner of mortgaged land. Upon full payment of the mortgage debt the borrower becomes the landowner.
RELATED TERMS--------------------------------------
Mortgage
A legal document pledging property as security for the payment of a loan.
Mean
The average of all items included within a group, calculated by dividing the sum of the individual items, or variates, by the number of variates.
Lender
A term which can refer to the institution making the loan or to the individual representing the firm.
Land
The earth's surface, extending downward to the center of the earth and upward infinitely into space, including things permanently attached by nature, such as trees and water.
Debt
An amount owed to another.
Borrower
A person who has been approved to receive a loan and is then obligated to repay it and any additional fees according to the loan terms.
SIMILAR TERMS--------------------------------------
Title
1) The rights of ownership and possession of particular property. 2) In real estate usage, title may refer to the instruments or documents by which a right of ownership is established (title documents), or it may refer to the ownership interest one has in the real estate.
Title 1
An FHA-insured loan that allows a borrower to make non-luxury improvements (like renovations or repairs) to their home.
Title company
A company that specializes in examining and insuring titles to real estate.
Title defects
An unresolved claim against the ownership of property, which prevents presentation of a marketable title.
Title examination
A check of the title records, generally at the local courthouse, to make sure the buyer is purchasing a house from the legal owner and there are no liens, overdue special assessments, or other claims or outstanding restrictive convenants filed in the record.
Title insurance
Insurance that protects the lender against any claims that arise from arguments about ownership of the property.
Title insurance fees
The costs involved in purchasing title insurance.
Title risk
Possible impediments to the transfer of a title from one owner to another.
Title search
Carried out as part of the conveyancing process to verify that the seller has clear ownership and is free to transfer the property.
Title v examination
A test put together by the state EPA that must be performed on all private sewerage systems.
Title, escrow and closing agent fees
These companies charge various fees for their services.
PREVIOUS AND NEXT TERMS--------------------------------------
Title examination
A check of the title records, generally at the local courthouse, to make sure the buyer is purchasing a house from the legal owner and there are no liens, overdue special assessments, or other claims or outstanding restrictive convenants filed in the record.
Title insurance
Insurance that protects the lender against any claims that arise from arguments about ownership of the property.
Title insurance fees
The costs involved in purchasing title insurance.
Title risk
Possible impediments to the transfer of a title from one owner to another.
Title search
Carried out as part of the conveyancing process to verify that the seller has clear ownership and is free to transfer the property.
Title theory
Title v examination
A test put together by the state EPA that must be performed on all private sewerage systems.
Title, escrow and closing agent fees
These companies charge various fees for their services.
Top producer
A real state industry term that refers to agents and brokers who sell a high volume of homes.
Top soil
The top layer of soil that is removed when lots are graded in preparation for construction.
Torrens system
A method of evidencing title by registration with the proper public authority, generally called the registrar, named for its founder, Sir Robert Torrens, an Australian who developed the system in 1857. Torrens took the idea from the system of registering title to shipping vessels. It is also popular in Canada, Australia and Great Britain.
This dictionary contains 6433 terms. |
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