Good Title

Clear Title
A clear title signifies that a property is free from any encumbrance, obstruction, burden, or limitation that questions its legal validity or ownership.
Free and Clear
In property law, a title is considered 'free and clear' if it is not encumbered by any liens or restrictions. This indicates that the property is unencumbered and conveys a good or marketable title.
Good Title
A *Good Title* refers to a legal concept where a title is free from present litigation, obvious defects, and grave doubts concerning its validity or merchantability. This implies that such a title is marketable to a reasonable purchaser or can be used as security for a loan to a person of reasonable prudence.

Accounting Terms Lexicon

Discover comprehensive accounting definitions and practical insights. Empowering students and professionals with clear and concise explanations for a better understanding of financial terms.