| Real Estate 101 - Title |
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| What is a Title? | |
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Title is an ownership of a property or an evidence of the ownership of the property. | |
| What is a Clear Title? | |
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A clear title is the title to the property without any encumbrances or defects. | |
| What is a Title Defect? | |
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A title defect is a legal right held by other parties to have claim on the property or to make demands upon the owner. | |
| What is Chain of Title? | |
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Chain of title is the past series of transactions and documents affecting the title to a specific property. | |
| What does Cloud on Title mean? | |
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Cloud on title means that when the title company performed the title search, they found a claim on the property. An example of a cloud on Title is Mechanic's Lien, where the homeowner has not paid the contractor, who in turn has put lien on the property. | |
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