Title Terms

1. The act of transferring an interest in property from one party to another.
2. The amount borrowed or remaining unpaid. The part of the monthly payment that reduces the remaining balance of a mortgage.
4. as the place of residence for a family or individual and is secure from forced sale by general creditors.
8. When referring to title insurance, the ____ is the rate charged to a consumer who does not qualify for a reduced rate.
10. A procedure whereby a disinterested third party handles legal documents and funds on behalf of a seller and buyer and all others involved in the transaction, and delivers them upon performance by the parties.
12. (1) The interest or value which an owner has in real estate over and above the debts against it. (2) A type of court of record.
14. The process in which a court legally recognizes a person’s death and oversees the payment of a deceased person’s debts and the distribution of their assets.
15. The process of measuring land to determine its size, location and physical description and the resulting drawing or map.
17. A claim or charge on property of another for payment of some debt, obligation, or duty.
18. An instrument that creates a lien or encumbrance on property as security for a debt.

1. A right to assert, or the assertion of, a demand for payment of money due; or the surrender or delivery of possession of property or the recognition or some right. A demand for something as one's rightful due.
3. A term applied to the past series of transactions and documents affecting the title to a particular parcel of land.
5. A form issued by the insurer which provides coverage limitations or additions that are attached to a title insurance policy.
6. A promise by the grantor of real property that he or she is the owner and will be responsible to the buyer if title is other than represented.
7. A written instrument duly executed and delivered that conveys or transfers legal and equitable title to the property.
9. A party who transfers an interest in property to another by a written instrument.
11. Acronym referring to an estimate of closing costs the lender is required (under the federal Real Estate Settlement Procedures Act) to give to the buyer within at least three days of applying for a reverse mortgage loan.
13. An insurance company which issues insurance policies either to the public or to another insurer.
14. A written contract of title insurance.
16. A person who locates and compiles all relevant documents from the abstract plant pertaining to the subject property.