Chain of Title
A chronological list of recorded instruments tracing title to land, form
the original owner to the present owner.
The maximum which an adjustable rate mortgage may increase, regardless
of index changes.
Title to property which is free from liens, defects or other encumbrances.
The process of completing a real estate transaction during which the seller
delivers title to the buyer in exchange for payment of the purchase price.
Called a settlement in some areas.
Expenses, beyond the selling price, such as loan fees, title fees, etc.
Paid when documents are executed and/or recorded and the sale is complete.
A summary, in the form of a balance sheet, showing the amounts of debits
and credits to which each party to real estate transaction is entitled
Compensation due a real estate broker for acting on behalf of the principal.
Property acquired during a marriage by either a husband or wife, or both,
which is not separate property.
An abbreviation for comparable properties used for comparative purposes
in the appraisal process.
A required settlement in all contracts by which something of value, including
a promise, is exchanged for the act or promise of another.
Action conditioned upon a certain event. Acceptance of the terms of a
contract based on something else happening or certain conditions being
The transfer of title or an interest in real property by means of written
instrument such as a deed of trust.