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Intermediate terms

Essential Property Title Terms

This curated collection includes key terms that might be helpful when exploring property title and ownership integrity. It focuses on understanding the quality of ownership, associated risks, and the implications of deeds like a quitclaim. These terms were selected based on common questions and areas where investors often need clarity.

Learning Path

1

Encumbrance

A claim or liability against a real estate property that affects its title and may diminish its value or restrict its use, but does not prevent its transfer.

Intermediate11-12 min
2

Warranty Deed

A legal document that transfers property ownership with the highest level of guarantee, where the grantor warrants clear title against all defects, past and present.

Intermediate11-12 min
3

Lien

A lien is a legal claim or right against a property, granted to a creditor, which serves as security for a debt or obligation until it is satisfied.

Intermediate18-20 min
4

Tax Lien

A tax lien is a legal claim placed on a property by a government entity due to unpaid property taxes, taking precedence over most other liens.

Intermediate14-15 min
5

Covenant of Further Assurances

A contractual promise by a grantor in a real estate transaction to perform any reasonable acts necessary to perfect the title conveyed to the grantee, should defects or omissions arise post-closing.

Advanced15-18 min
6

Special Warranty Deed

A legal document transferring property ownership with a limited warranty, where the grantor guarantees the title only against defects that arose during their period of ownership.

Intermediate18-20 min
7

Title

Title in real estate refers to the legal right of ownership to a property, representing a bundle of rights that an owner possesses over their land and any structures on it.

Beginner13-14 min
8

Quitclaim Deed

A legal document used to transfer an interest in real property from one party to another without providing any warranties or guarantees regarding the title's validity or clarity.

Intermediate13-14 min
9

Title Insurance

Title insurance protects real estate owners and lenders against financial loss from defects in a property's title, ensuring clear ownership and safeguarding against past claims.

Intermediate13-14 min
10

Legal Description

A legal description is a precise, legally sufficient identification of a parcel of land, defining its exact boundaries and location for official records and transactions.

Intermediate13-14 min
11

Covenant of Quiet Enjoyment

The Covenant of Quiet Enjoyment is an implied right in a lease agreement assuring a tenant undisturbed use and possession of a property without interference from the landlord or their agents.

Intermediate14-15 min
12

Title Search

A title search is a comprehensive examination of public records to confirm a property's legal ownership and identify any claims, liens, or encumbrances against it, ensuring a clear title for real estate transactions.

Intermediate11-12 min
13

Chain of Title

A chronological record of ownership transfers for a specific property, detailing all legal documents that have affected its title from its origin to the present day.

Intermediate14-15 min
14

Easement

A legal right allowing one party to use or access another's property for a specific, limited purpose, without owning the land. It creates a non-possessory interest that can affect property value and use.

Intermediate15-18 min
15

Grantee

A grantee is the individual or entity who receives ownership of real property through a legal document called a deed, becoming the new legal owner.

Beginner14-15 min
16

Clear Title

A clear title signifies undisputed legal ownership of a property, free from any liens, claims, or other legal encumbrances, ensuring the seller has the full right to transfer ownership to a buyer.

Beginner15-18 min
17

Grantor

A grantor is the legal owner of a property who transfers ownership to another party, known as the grantee, typically through a deed in a real estate transaction.

Beginner13-14 min
18

Quiet Title Action

A Quiet Title Action is a legal proceeding to establish or confirm a party's ownership of real property against any adverse claims, thereby clearing any clouds on the title and making it marketable.

Advanced14-15 min
19

Abstract of Title

A comprehensive, chronological summary of all recorded documents and legal proceedings affecting the title to a specific parcel of real estate, tracing its ownership history.

Intermediate13-14 min
20

Covenant of Seisin

The Covenant of Seisin is a legal promise in a deed, typically a general warranty deed, by which the grantor assures the grantee that they own the property being conveyed and have the legal right to transfer it.

Advanced14-15 min
21

Judgment Lien

A judgment lien is a legal claim placed on a debtor's property, typically real estate, as a result of a court-ordered money judgment, securing the creditor's right to collect the debt.

Intermediate18-20 min
22

Deed Recording

Deed recording is the official process of filing a legal document, such as a deed, with the county recorder's office to provide public notice of property ownership transfer and establish legal priority.

Intermediate13-14 min
23

Deed

A deed is a legal document that formally transfers ownership of real property from one party (grantor) to another (grantee), serving as tangible evidence of title transfer.

Intermediate14-15 min
24

Title Company

A title company is an impartial third party that ensures clear legal ownership of a property, conducts title searches, issues title insurance, and facilitates the closing of real estate transactions.

Beginner14-15 min
25

Title Commitment

A title commitment is a document issued by a title company that outlines the conditions under which it is willing to issue a title insurance policy for a property, detailing ownership, liens, and encumbrances.

Intermediate14-15 min
26

Covenant Against Encumbrances

A legal assurance in a deed, typically a warranty deed, guaranteeing that the conveyed property is free from any undisclosed liens, easements, or other burdens on the title at the time of transfer.

Advanced15-18 min