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| System for registering documents in a government office for public inspection |
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| The history of land ownership |
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| Statutes that do not require but strongly encourage all documents affecting ownership or claims against real estate to be filed in a government office. |
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| ethod for determining priority of claims with the first document recorded for a property given priority over a document filed later. |
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| the last good faith purchaser is given priority unless a susequent good faith purchaser records a deed first. |
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| One who purchases without actual or constructive knowledge of a prior transfer to another |
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| Priority is given to the first good faith purchaser to record |
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| The process of searching public records to determine the onwership of a property, claims or liens agasint the property of the owner, and the existence of any other matters that might affect transfer of good title |
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| used interchangeably with ownership |
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| Conducting a title search |
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| the physical process of searching the public records for recorded docuements that may affect the title to real estate |
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Definition
| written listing of all recorded documents and notices of public record that affect a particular piece of property |
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| Insurance policy that insures the ownership of the property as of a particular deed trasnferring ownership |
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| all those who held title to the property in the past |
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| The index that shows all documents by grantor name |
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| The index that lists all documents by grantee name |
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| documents that use real property as collateral to secure the repayment of a loan |
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| monetary wards entered in favor of one of the parties of a lawsuit |
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| judgments obtained by the federal government for unpaid income taxes |
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| local real estate taxes and municipal charges |
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Definition
| unpaid taxes and charges that represent a lien against a property |
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| the process by which someone reviews the chain of title shown in the abstract and all the documents that have been recorded to determine which of those items negatively impact the seller's ability to give good title |
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| A summary report that describes ownership, identifies anything impacting that ownership, and lists items that might affect the ability to give good title |
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| binder for title insurance |
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Definition
| an agreement that thetitle company insurer will issue title insurance if certain objections are resolved |
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