A legal document transferring the title of property from its owner to a trustee, who holds it as security for a performance of obligations by the owner or a third party.
An Opinion of Title is a certificate, generally from an attorney, which provides an assessment of the validity of the title to property being sold. It serves as a basis upon which title insurance companies decide to insure the title.
Reconveyance is a process in which a lender transfers the title of a property back to the borrower once the mortgage debt is fully paid off. This legal document ensures the borrower's ownership of the property is unencumbered by the lender’s lien.
A scenic easement is a type of encumbrance on the title to a property designed to preserve it in a more or less natural or undeveloped state.
A Title Guaranty Company is an entity that provides title insurance, ensuring the validity and legality of a property title, thus protecting property buyers and lenders against potential title disputes and claims.
A title report provides a detailed depiction of the current state of a property title, including easements, covenants, liens, and any other defects. It does not, however, describe the chain of title.
