Get a title check whenever you purchase a property from anything other than a traditional sale. When you buy at any county auction the county explicity tells you there is no guarentee on a clear title. Foreclosure Auctions are particularly nasty as there is often clouds on the title like liens and judgements. With our easy to use and read title checks there will be no confusion as to what is clouding the title and lets you check the title in a cost effective way right from your property page.
Title: A title is a bundle of rights in a piece of property in which a party may own either a legal interest or equitable interest. The rights in the bundle may be separated and held by different parties. It may also refer to a formal document, such as a deed.
Deed: A Deed is any legal instrument in writing which passes, affirms or confirms an interest, right. It is commonly associated with transferring title to property. Basically a peice of paper that someone legally says who owns the property and is filed with the county.
Encumberance: A claim against, limitation on or liability against real estate, held by someone other than the fee owner of the property that affects the title to the property, and therefore the property value.
Lien: A legal claim on a tract of real estate granting the holder a specified amount of money upon the sale of the property. Such liens are often used to ensure the payment of a debt, with the property acting as collateral against the amount owed. A mortgage is the best example of a property lien. Other kinds of liens are Mechanics, Home Owner Associations, Condo Associations, and Utility.
Lis Pendins: A pending legal action, or a formal notice of one. Typically the initial step a lien holder take is notifying the homeowner they intend to start the foreclosure process.
Final Judgement: The written decision of the lawsuit that the judge determines. In foreclosures typically this is when the amount of the foreclosure suit awarded to the lien holder which is typically a principal balance and legal fees.
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