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Title and Title Insurance (Subscribe) Terms, definitions, and concepts related to real estate title and title insurance.

Land Terms

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Abstract of title popular

10 out of 10 stars (2 votes)

A concise, summarized history of the title to a specific parcel of real property, together with a statement of all liens and encumbrances affecting the property. The abstract of title does not guarantee or assure the validity of the title of the property. It merely discloses those items about the property which are of public record, and thus does not reveal such things as encroachments, forgeries, and the like.

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Accession Number

One of the two types of codes used to uniquely identify a land patent (the other type of ID code is serial number). An accession number directly relates a document image to the original hardcopy document. It identifies the state, volume number and page number of the original GLO document (valid only for the 13 eastern public domain states, with the exception of Iowa).The format of accession numbers is SSVVVV__.PPP where SS is state code, VVVV is the volume number, and PPP is the page number. For example, LA3010__.023 identifies the document on the 23rd page of volume 301 for Louisiana.See also Accession/Serial Number.

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Acre popular

8 out of 10 stars (9 votes)

Area measurement (square measure) used primarily in the United States. One (1) acre is equal to 43,560 square feet, 4,046.86 square meters, or 0.4047 hectares.

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Adverse possession

7 out of 10 stars (4 votes)

The acquiring of title to real property owned by someone else, by means of open, notorious and continuous possession for the statutory period of time (varies by state).

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Aliquot Parts

A notation used by rectangular survey system to represent the exact subdivision of a section of land.

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Allodial system

Title to real property that is free of encumbrances and obligations, including taxation. It denotes absolute or supreme ownership. Strictly defined, allodial title is not subject to county, state, or federal codes, ordinances, or zoning regulations ("police power"), nor can it be taken through legal or regulatory means ("inalienable"). In practical use, title in the United States is often said to be allodial (as opposed to feudal), even though it does not meet all of the qualifications listed above.

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Allodial tenure new

Land tenure characterized by the highest degree of ownership legally possible. Allodial tenure describes title to real property that is free of encumbrances and obligations, including taxation. It denotes absolute or supreme ownership. Strictly defined, allodial title is not subject to county, state, or federal codes, ordinances, or zoning regulations ("police power"), nor can it be taken through legal or regulatory means ("inalienable"). In practical use, title in the United States is often said to be allodial (as opposed to feudal), even though it does not meet all of the qualifications listed above.

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Allodial title updated popular

Title to real property that is free of encumberances and obligations, including taxation. It denotes absolute or supreme ownership. Strictly defined, allodial title is not subject to county, state, or federal codes, ordinances, or zoning regulations ("police power"), nor can it be taken through legal or regulatory means ("inalienable"). In practical use, title in the United States is often said to be allodial (as opposed to feudal), even though it does not meet all of the qualifications listed above.

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Allodium popular

1. Real property owned under allodial title - completely, independently, without rent, mortgage, encumberances, taxation or any other obligation to another.
2. Freehold estate; land which is the absolute, inalienable property of the owner.
3. Real estate held in absolute independence, without being subject to any rent, service, or acknowledgment to a superior.

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Apparent title

1. A set of facts, documents, or circumstances that give the appearance of title to real property, but are invalid or insufficient to legally show or prove title.
2. Something that on its face appears to be title, but is not actually title, nor does it show or prove title (as in a forged deed or other muniment of title).
Also known as "color of title".

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Attachment

The legal process of seizing the real or personal property of a defendant in a lawsuit, by levy or judicial order, and holding it in the custody of the courts as security for satisfaction of the judgment which the plaintiff may recover in any action upon a contract, express or implied

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Attorney's opinion of title

An evaluation of the status or validity of a title to real property by an attorney qualified to examine such titles.
See also "Certificate of title", "Chain of title", and "Abstract of title".

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Bounds

Bounds refers to definite boundary markers such as natural landmarks. Natural landmarks may often consist of such things as a specific tree or stream. Part of an old system of measuring land and establishing boundaries, commonly referred to as Metes and Bounds.

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Cadastral survey popular

Creates or re-establishes, marks, and defines boundaries of tracts of lands.

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Certificate of title

1. Document designating the legal owner of a parcel of real property and the state of its title, provided by a title company.
2. An opinion issued by a title examiner or attorney that the title to a particular property is clear and marketable.
3. Document issued by the Registrar of Titles for real estate registered under the Torrens system, which is considered conclusive evidence of the present ownership and state of the title to the property described therein.

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Chain of title

The recorded history of matters (muniments of title) which affect the title to a specific parcel of real property, such as ownership, encumbrances and liens; usually beginning with the original recorded source of the title.

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Clear title popular

1. Title to real property that is free from liens, encumbrances, or defects aside from those which the buyer has agreed to accept (mortgage to be assumed, ground lease of record, etc.)
2. Title to real property that is established, marketable, and without clouds.

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Cloud on title updated

1. Any document, actual or apparent claim, unreleased lien, or encumbrance which may impair, injure, or otherwise adversely affect the title to real property.
2. A state or condition of real estate title characterized by the existence of a defect or encumbrance which adversely affects the title and causes it to be unmarketable.

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Clouded title updated

A state or condition of real estate title characterized by the existence of a defect or encumbrance which adversely affects the title and causes it to be unmarketable.

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Color of title

1. A set of facts, documents, or circumstances that give the appearance of title to real property, but are invalid or insufficient to legally show or prove title.
2. Something that on its face appears to be title, but is not actually title, nor does it show or prove title (as in a forged deed or other muniment of title).
Also known as "apparent title".

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Common areas updated

Land or improvements designated for the use and benefit of all residents, property owners and tenants.

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Company title new

A form of ownership of units of a larger building, such as apartments or condominiums. Under this form of title, owners of individual units form a company, with property title in the form of shares of the company. These shares allow owners to occupy a unit in the building. Company title is cumbersome and often does not clearly define who owns a particular unit, leading to inaccuracies and confusion. Company title has largely been replaced by strata title in most areas.

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Conservation easement

1. An easement designed to preserve and protect open space or important natural areas.
2. A legal agreement between a landowner and either a land trust or government entity that restricts land use and development on a parcel of real property so as to preserve and protect its conservation and natural resource values.

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Conveyance

The act of transferring property title from one person to another.

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Deed

A written instrument by which a property owner (grantor) transfers to a grantee ownership of and title to real property.

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