Acknowledgment in real estate refers to a formal declaration made before an authorized official by the person who signed a document, stating that it is their voluntary act.
A Chain of Title refers to the sequential historical record of documentations pertaining to the ownership and encumbrances of a specific property, tracked back to the earliest available records or original grant.
Conveyance refers to the transfer of the title of real estate from one party to another through a legally binding instrument. It typically involves documentation that deeds property from a seller to a buyer during a recognized transaction.
Document recording is a crucial process in real estate transactions that involves filing documents, such as deeds or mortgages, with a recorder of deeds or an appropriate government office to create a public record of property ownership and interests.
An estoppel certificate is a legal document where the borrower acknowledges the amount of debt secured by a mortgage. It also can be a lease clause where a tenant confirms the lease's enforceability, absence of landlord default, and current rent status.
An Opinion of Title is a certificate, often provided by an attorney, that attests to the validity of the title to a property being sold. This document plays a crucial role in real estate transactions.
A testator is a person who has made a will or given a legacy. In general law, a testator is the individual who explicitly provides their desires regarding the distribution of their estate upon their death through the legal document known as a will.
A clause in a deed or other conveyance that cites the act and date, ensuring that all details such as names and legal descriptions are correct before signing.
A Title Abstract, or Abstract of Title, is a comprehensive summary of the history of a piece of real estate. It includes a chronological record of all historical transactions, liens, easements, encumbrances, and other activities affecting ownership rights.
