Policy Exceptions

1. Other liens or encumbrances on your title exist but aren't listed in the policy exceptions.

Unknown Encumbrances

1. A single, one-time premium provides the insured indemnification against loss or damage suffered through title defects or unknown encumbrances.

Examination

1. Title examiners must research the public record back 40 years from the date of examination to ensure that there are no defects or encumbrances in title.

Subject

1. Not in the mortgage loan borrower, Subject to defects, liens or encumbrances, or Unmarketable.

Interest

1. Only title insurance can protect your interest in the property from unknown encumbrances, legal conflicts and unforeseen claims.

Items

1. It is the officer's responsibility to examine those items and arrive at a conclusion as to who owns the property and what encumbrances or defects exist.

Purpose

1. Its purpose is to inform all parties of any encumbrances affecting the property and to commit to insure property, subject to certain stated requirements.

Facts

1. Title which can be readily marketed to a reasonably prudent purchaser aware of the facts and their legal meaning concerning liens and encumbrances.

Chain

1. Obtain a title history that includes a chain of title and copies of current and expired property interests, liens, and encumbrances.

Fee

1. Defects may run to the fee (chain of title) or to encumbrances.

Cloud

1. A cloud on title refers to any outstanding liens or encumbrances which could impair the title.

Free

1. Title Company Firms that examine properties to ensure that the title to a piece of property is clear and free of any encumbrances.
2. Owner’s title insurance protects the homeowner’s title, or legal ownership, of the property free from any unknown encumbrances.

Buyer

1. A buyer should do his homework and ask a local title company for information concerning these outstanding liens and encumbrances.

Title Policy

1. A search can be ordered without ordering a commitment and title policy in which case it is called an Owner's and Encumbrances (O&E) report.

Title Company

1. If any liens or encumbrances are found, the title company might require that the home buyer take steps to eliminate them before issuing a title policy.

Estate

1. Clear Title Ownership rights to piece of real estate that are not diminished by liens, leases, or other encumbrances.

Seller

1. A. The agent searches all available public records to verify that the seller has the right to sell the property without any encumbrances.

Land

1. The order of preference, rank or position of the various liens and encumbrances affecting the title to a particular parcel of land.
2. Rather, he is required only to free the property from those encumbrances which he created or allowed to burden the land at the time of conveyance." Id.

Conveyances

1. The history of all of the title transfers (conveyances and encumbrances) to a piece of real estate.
2. A history of conveyances and encumbrances of a property from some starting point, whereby the present owner derives title.
3. A history of conveyances and encumbrances affecting the title as far back as records are available.

Deed

1. Clear Title: The title or deed to a particular property that is completely free of all debts, liens, and encumbrances.
2. In preparing the deed to give to the buyer, we need to exclude the encumbrances on your property from the promise that there are no encumbrances.
3. The fee estate acquired by a deed in lieu is subject to all liens, encumbrances and title defects affecting the premises in question.

Ownership

1. The purpose of the search is to verify the seller's right to transfer property ownership and to discover any defects or encumbrances on the title.

Owner

1. Tax Search In order to transfer title of real property from one owner to another, the title must be “free and clear” of all encumbrances (liens).
2. The title insurance policy identifies the owner of the property and the status of items such as taxes, liens, and encumbrances.

Claims

1. Encumbrances can take the form of claims, liens, unpaid taxes, and so on.
2. Borrower warrants and will defend generally the title to the Property against all claims and demands, subject to any encumbrances of record.
3. One of those promises is that your property is free from all claims and encumbrances.

Closing

1. They are responsible for advising the seller to eliminate any encumbrances on title that would disrupt closing of escrow.

Transaction

1. Before closing your transaction, the title company will proceed to "clear" those encumbrances which you do not wish to assume.

Title Insurance

1. Title insurance covers such things as forged signatures, claims of undiscovered heirs, liens and encumbrances, as well as many other risks.
2. A) Generally, you need title insurance to guarantee to you that there are no liens or encumbrances on the property you are purchasing.
3. Title insurance protects the policy holder against title defects or encumbrances that may be discovered after property is transferred.

Exclusions

1. The Certificate or Commitment will list as exceptions or exclusions to title all encumbrances, liens, or other adverse matters that were found.
2. We interpret the exclusions to encompass defects, liens or encumbrances that exist at the time the policy is purchased.

Purchaser

1. The title company insures the purchaser of real estate against loss from defective titles, liens, and encumbrances.

Mortgage

1. First Mortgage A mortgage which is in first lien position, taking priority over all other liens (which are financial encumbrances).

Mortgages

1. It describes a situation where real estate is owned free and clear of any encumbrances, including liens, mortgages, loans and tax obligations.
2. Allodial title is completely free and clear of all obligations, liens, encumbrances, taxes, mortgages and the like.

Easements

1. Examples of encumbrances include mortgages, liens, leases, easements or unpaid taxes.
2. Restrictions, easements, and reservations are also encumbrances, although not liens.
3. The abstract also identifies encumbrances, easements and covenants that affect the property.

Public Record

1. The commitment provides direction for what needs to be done to remove liens, encumbrances, and mortgages from the public record.

Public Records

1. This process starts with a comprehensive search of public records to determine if any liens or other encumbrances are attached to the title.
2. Easements, claims of easements or encumbrances which are not shown by the public records.
3. Title Search An examination of the public records to determine the ownership and encumbrances affecting the property.

Marketability

1. Restrictive covenants that run with the land are encumbrances and may affect the value and marketability of title.

Defects

1. The policy insures the owner or party holding an interest in the property against loss caused by encumbrances or defects in title.
2. The prelim will disclose those liens, defects or encumbrances that will be exceptions to coverage on the policy unless removed.
3. The purpose of the search is to verify the seller's right to transfer ownership and to discover any defects or encumbrances on the title.

Title

1. A policy of title insurance protects the insured against a partial or total loss arising out of defects, liens and encumbrances in the title to real estate.
2. Warranty Deed: A deed used to convey title of property from one party to another, whereby the seller guarantees title to be free from encumbrances.
3. It also insures that the title to the property is free from all defects, liens and encumbrances except to that which the policy takes exception.

Title Defects

1. A title search can show a number of title defects and liens, as well as other encumbrances and restrictions.
2. This report gives a description of the property, along with any title defects, liens, or encumbrances discovered in the course of the title search.
3. A title search should show all title defects and encumbrances, as well as other claims and restrictions.

Lien

1. A mortgage, a lien for taxes, are examples of encumbrances.
2. Equity: The value of a homeowner's interest in real estate over and above the amount that is owed to a lender or any encumbrances (such as a lien).
3. ENCUMBRANCES. "Encumbrance" includes a tax, an assessment, and a lien on real property.

Liens

1. There are no defects, liens or encumbrances on the title which the lender was unaware of, or are not shown as an exception from coverage.
2. A title search can reveal several types of defects in title, liens, encumbrances and restrictions.
3. Clear Title - Real property ownership free of liens, defects, encumbrances or claims.

Encumbrances

1. A warranty deed contains provisions under which the seller becomes liable to the purchaser for defects in or encumbrances on the title.
2. A policy of title insurance which insures a named owner against loss by reason of defects, liens and encumbrances or lack of marketability of the title.
3. FREE AND CLEAR TITLE - Title to real property which is absolute and unencumbered by any liens, mortgages, clouds or other encumbrances.

Categories

1. Liens
2. Title Defects
3. Title Search
4. Title Company
5. Encyclopedia of Keywords > Information > Public Records
6. Books about "Encumbrances" in Amazon.com
   

Continue: More Keywords - - - - - - - - - -