Title Talk

12345678910111213141516171819
Across
  1. 3. The legal process where a lender sells a property (usually a home) to recover unpaid mortgage debt, typically done through a nonjudicial "power of sale" process governed by the Property Code, allowing sale without a court order after proper notice to the borrower.
  2. 5. A defect of potential claim that "muddies" the deed chain.
  3. 6. Belonging or relating to the bank of a river or stream. Land within the natural watershed of a river or stream.
  4. 7. Title insurance term for the preliminary report issued before the actual policy. Said report shows the condition of title and the steps necessary to complete the transfer of title as contemplated by buyer and seller.
  5. 8. (2 words) A legal notice recorded to show pending litigation relating to real property, and giving notice that anyone acquiring an interest in said property subsequent to the date of the notice may be bound by the outcome of the litigation.
  6. 9. (2 words) When a homeowner sells their property for less than the outstanding mortgage balance, requiring the lender's approval to accept the lower sale price as full or partial payment to avoid foreclosure, with the lender potentially forgiving the remaining debt or allowing a deficiency judgment for the difference. It's an alternative to foreclosure for financially distressed homeowners "upside down" on their mortgage, allowing them to sell the home and potentially avoid severe credit damage.
  7. 12. The term used when a parcel of land has no access to a public right of way (road). Condemnation for a limited access highway is a major cause of such parcels.
  8. 15. A person given authority by a proper court to manage and distribute the estate of a deceased person when there is no will.
  9. 18. A right created by grant, reservation, agreement, prescription, or necessary implication, which one has in the land of another. It is either for the benefit of land (appurtenant), such as the right to cross parcel A to get to B, allowing someone to use another person's private property for a specific, limited purpose, like running utility lines or accessing a road, without owning the land itself.
  10. 19. (2 words) A document used to convey fee title to real property.
Down
  1. 1. (Abbr.) A federal statute effective June 20, 1975, requiring disclosure of certain costs in the sale of residential (one to four family) improved property which is to be financed by a federally insured lender.
  2. 2. A determination by a court as to the legal rights of the plaintiff, with no order for relief. This judgment type is binding on future litigation.
  3. 3. (Abbr.) A private corporation dealing in the purchase of first mortgages at a discount
  4. 4. This type of “Note” is a written, legally binding promise by a borrower (maker) to repay a specific sum of money (principal plus interest) to a lender by a certain date or upon demand, detailing terms like amount, interest rate, payment schedule, and consequences for default, serving as evidence of debt and often paired with security like a Deed of Trust for real estate.
  5. 10. (2 words) This is considered the "Bible" of the Title industry containing all rules and rates.
  6. 11. (Abbr.) Refers to the U.S. Treasury agency's specific regulations and orders targeting illicit financial activities, particularly through Geographic Targeting Orders (GTOs) that mandate title companies in certain Texas counties.
  7. 13. A claim, lien, or liability attached to real property that may lessen its value.
  8. 14. A financial intelligence and enforcement agency within the U.S. Department of the Treasury that administers and enforces economic and trade sanctions based on U.S. foreign policy and national security goals, targeting countries, regimes, terrorists, and traffickers to control transactions and freeze assets.
  9. 16. Having written a last will and testament
  10. 17. Any person or entity advancing funds which are to be repaid. A general term encompassing all mortgagees, and beneficiaries under deeds of trust.