During intermediation the placement of assets in the actual or constructive possession of the fellow. As a general rule, by delivering an act to the buyer or buyer`s representative or by recording the facts. The transfer of a deed from the seller to the buyer in such a way that it cannot be recalled by the seller. A necessary condition for the transfer of the title. An act used in many states to place tax securities on real estate. A guarantee statement contains provisions under which the seller is liable to the buyer in the event of a default or property charge. Alliances inserted in promotions and transfers of property on real estate for the purpose of protecting the buyer against a possible inadequacy of the title received. A group of these alliances, known as «common law covenants,» includes: alliances against charges; Additional insurance obligations (i.e. doing whatever is necessary to address property defects); to communicate covenants of right and right of power; the covenants of silent enjoyment; Seisin`s wedding rings; Guarantee pacts.
The deposit money that the potential buyer gave to the seller or his agent when signing the sales contract to show that he is serious about buying the house. When the sale passes, the serious money is applied as part of the down payment. If the sale does not pass, the serious money is lost or lost, unless the record or offer to purchase expressly provides for it to be repaid. Pooling in a central office lists real estate for sale. These offers are individually held by members of a group of real estate agents, with the agreement that each member of the group can sell the real estate and, in the event of a sale, the commission is divided between the broker who makes the sale and the broker who submitted the list. An instrument that transfers the ownership of an agent to the right owner of real estate when the title is considered a debt. most often used when paying the trust in full payment. Also called the act of reconveyance or exit. Examining the instruments that enter a chain of securities to determine their effect and condition in order to reach a conclusion on the status of the title.
A summary of public records of the title of a given land. A lawyer or legal protection company verifies a property summary to determine if there are any property defects that need to be eliminated before a buyer can acquire a clear, marketable and insurable title purchase. Adding or modifying title insurance that expands or changes insurance coverage by meeting the specific requirements of the insured. In states where lawyers review the securities chain prior to the issuance of title insurance, the title company will approve certain lawyers such as those whose notice it will accept for the issuance of a title policy. Release the title of other people`s claims through an action called «silent title.» The judicial decree received is a «calm title» decree. The age at which a person is no longer considered a minor and has the right to enter into a contract and make use of citizens` rights, such as voting.B. (1) Lands for which current district taxes have not been paid are «sold to the state.» There is no actual sale. The title is transferred to the state and the owner can cash it in taxes, penalties and fees. If it has not been cashed in within five years, the property (called «tax real estate») is effectively transferred to the state.
(Cities-like «sales» take place for unpaid urban taxes.) (2) A public sale of real estate at an auction by a public authority after a period of non-payment of property tax. A transfer of land ownership by the federal state or the state government. A written report from a securitized company prior to the issuance of title insurance indicating the registered status of ownership of the property in question.