An 'Abstract of Title' is a comprehensive summary of all significant legal actions, including recorded instruments and court proceedings, that relate to a particular property's title. It serves as an essential document for title examination, providing potential buyers, investors, and lenders with a detailed history of property ownership and encumbrances.
An abstract update involves making current an existing, but old, Abstract of Title by adding all relevant documents recorded since the preparation or the most recent update of the existing abstract.
An acknowledgment is a formal declaration by the person who has signed a document, stating that the signature is their voluntary act made in the presence of an authorized official, typically a notary public.
An Administrator’s Deed is a legal document used to transfer property of an individual who died intestate, meaning without a will. The deed is executed by an estate administrator appointed by the court.
An affiant is an individual who signs or signifies to the truth of an affidavit under oath. This role is crucial in legal proceedings, as the affiant attests to the accuracy and truthfulness of the information contained within the affidavit.
An amendment refers to a change, correction, or extension of an agreement that does not modify the basic thrust of the agreement.
An Attorney's Opinion of Title is a legal document in which an attorney provides their judgment regarding the validity and marketability of a property title after conducting a thorough examination of public records and property title abstracts.
A Bill of Assurance is a legal document containing a collection of restrictive covenants that apply to a group of contiguous lots, ensuring specific standards and regulations for development and property use.
The closing date in real estate is the date upon which the sale of a property is finalized and ownership is officially transferred from the seller to the buyer through the execution of associated legal documents.
A Contract for Purchase or Sale, also known as an Agreement of Sale, is a comprehensive legal document between a buyer and a seller that outlines the terms and conditions of a real estate transaction.
A Contract of Sale, also known as an Agreement of Sale, is a legal document that outlines the terms and conditions under which a sale of property will be completed between a seller and a buyer.
A Declaration of Homestead is a legal document that establishes a homeowner's protection under homestead laws, often providing creditor protection for the primary residence.
Evidence of title refers to the legal documents that demonstrate ownership rights to a property. These documents are essential in confirming and asserting a person's or entity's legal property ownership.
Exhibits are attachments to leases, mortgages, and other legal documents, providing detailed, supplementary information pertinent to the main document.
A legal document transferring real estate from one party to another as a gift, with no monetary consideration involved.
The term 'legal name' refers to the name recognized by government authorities for official purposes, as recorded on documentation such as birth certificates, identification cards, and legal contracts.
A lien waiver is a document from a contractor, subcontractor, materials supplier, or other party to the construction project, stating they have received payment and waive any future lien rights to the property for the amount received.
Notarize refers to the act of a notary public witnessing the signing of a document and attesting to the authenticity of the signature. This process provides legal assurances that the signature is legitimate.
A Power of Attorney (POA) is a legal document that grants one individual (the agent or attorney-in-fact) the authority to act on behalf of another person (the principal) in legal or financial matters.
A Purchase and Sale Agreement (PSA) is a legally binding contract that outlines the terms and conditions related to the purchase of real estate assets. It is used primarily to detail the obligations and rights of both the buyer and the seller before the actual transfer of property ownership.
A quitclaim deed is a legal instrument that transfers the grantor's interest in a property to another party without warranties or guarantees regarding the property's title. It is often used to clear clouds on the title or transfer property between family members.
A real estate contract defines the terms agreed upon by a buyer and seller regarding a real estate transaction. This legal document ensures all parties understand their obligations and rights.
A rider is an amendment or attachment to an existing contract, often used to customize and modify the original terms of agreements in various domains, including insurance and real estate.
A short form is a concise document, often no more than two pages, that references another, more detailed document. It is usually recorded at the county courthouse to avoid handling a longer, more cumbersome document.
A will, also known as a testament, is a legal document that sets forth how an individual's property and affairs will be handled after their death.
