A statutory lien imposed against real property for nonpayment of taxes.
Tenancy in Common
Co-ownership in a property by two or more persons, each of whom has an
undivided interest in the whole property.
The information warehouse of a title company in which it has accumulated
and is constantly updating title records of properties in its area which
it can use to search title or real property.
A person who holds title in trust for the benefit of another. In a deed
of trust, the trustee is the person named to hold title in trust for the
benefit of the lender until the loan is paid off.
The borrower under a deed of trust. One who deeds their property to a
trustee as security for repayment of a loan.
The process of evaluating a loan application to determine if it meets
the lenders standards.
Title which contains defects that would allow a purchaser to be released
from his obligation to purchase.