Title glossary.

A tax-deferred exchange of like-kind investment properties under Section 1031 of the Internal Revenue Code.

A summary of the recorded history of a property, including transfers, liens, and encumbrances.

The chronological sequence of historical transfers of ownership for a parcel of property.

The final step in a real estate transaction, when documents are signed, funds are disbursed, and ownership transfers.

A form that lists final loan terms and closing costs, provided to the borrower before closing.

A legal document that transfers ownership of real property from one party to another.

A deed by which a borrower transfers property to the lender to satisfy a loan in default, avoiding foreclosure.

A deposit made by a buyer to demonstrate good faith when entering into a purchase contract, typically held in escrow.

A right to use another person's land for a specific purpose, such as utility access.

A claim, lien, or liability attached to a property that may affect its transfer or value.

An amendment to a title insurance policy that expands or modifies coverage.

An arrangement in which a neutral third party holds funds or documents until contractual conditions are met.

The party who receives an interest in property through a deed.

The party who transfers an interest in property through a deed.

A title insurance policy that protects a lender's interest in a property up to the loan amount.

A legal claim against a property, often used to secure repayment of a debt.

A title insurance policy that protects a property owner's interest for as long as they or their heirs hold title.

The period and related transactions after a property has been foreclosed upon by a lender.

The division of ongoing expenses, such as property taxes or HOA dues, between buyer and seller as of the closing date.

Property owned by a lender, typically after an unsuccessful foreclosure sale.

A drawing or map showing the boundaries, improvements, and features of a property.

The legal right of ownership to a property.

A document issued before closing outlining the conditions under which a title insurer will issue a policy.

Insurance that protects against financial loss from defects in title to real property.

A review of public records to determine the ownership history and any liens or encumbrances on a property.

The title insurance company that evaluates risk and issues the policy backing a title insurance transaction.

The manner in which title to property is held, such as by an individual, joint tenants, or an entity.