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Glossary of Real Estate Terms

The language of real estate is like that of other industries. Some words and phrases may seem foreign, others are ones that you hear every day. Following is a glossary that hopefully will allow you to better understand the real estate transactions with which you are involved.

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
  1. Title
  2. Title Covenants
  3. Title Defect
  4. Title Insurance Policy
  5. Title Plant
  1. Title

    (1) A combination of all the elements that constitute the highest legal right to own, possess, use, control, enjoy and dispose of real estate or an inheritable right or interest therein. (2) The rights of ownership recognized and protected by the law.

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  2. Title Covenants

    Covenants ordinarily inserted in conveyances and in transfers of title to real estate for the purpose of giving protection to the purchaser against possible insufficiency of the title received. A group of such covenants known as “common law covenants” includes: covenants against encumbrances; covenants for further assurance (in other words, to do whatever is necessary to rectify title deficiencies); covenants of good right and authority to convey; covenants of quiet enjoyment; covenants of seisin; covenants of warranty. (See Warranty or Covenant.)

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  3. Title Defect

    (1) Any possible or patent claim or right outstanding in a chain of title that is adverse to the claim of ownership. (2) Any material irregularity in the execution or effect of an instrument in the chain of title.

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  4. Title Insurance Policy

    A contract of title insurance under which the insurer, in keeping with the terms of the policy, agrees to indemnify the insured against loss arising from claims against the insured interest.

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  5. Title Plant

    Also called “abstract plant” in some areas. A geographically filed assemblage of title information that helps in expediting title examinations, such as copies of previous attorneys’ opinions, abstracts, tax searches and copies or take-offs of the public records.

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