Asked by: Sara Durant

Clear Title A “clean” title is perhaps the most marketable of all titles.

What is the strongest evidence of marketable title?

The best evidence of marketable title is a lender`s or owner`s title insurance policy. But when a title insurance company is willing to insure the title, the buyer or lender feels confident the title is marketable.

What is marketable title in Texas?

Generally speaking, marketable title means that the title to the property is reasonably free from doubts that would affect the market value of the property. Reasonable doubt is generally defined as a doubt which would induce a prudent person to hesitate in purchasing the property.

What is a marketable title quizlet?

A marketable title is one that contains no defects in the chain of title, encumbrances on the land not listed in the deed, or zoning violations.

What is marketable title in California?

The Supreme Court has stated that the test for a marketable title is “whether a reasonable purchaser, knowing that a third party might claim an interest in the property, would nevertheless proceed with the transaction (in a case where buyers complained of hazardous materials clean-up costs, which concerns marketability …

What is good title Texas?

Good title is an implied condition of a contract of sale of land that the seller must convey to the buyer a good, marketable title that has no defects, no burdens, and no hazardous litigation that may result from third parties with protected legal interests in the property.

What does equitable title mean?

A beneficial interest in real property that gives the title holder the right to acquire legal title to the property. Equitable title holders cannot transfer legal title to real property, but they derive benefits from the property’s appreciation in value.

Do Texas title insurance companies insure marketable title?

The title policies (except Texas) insure marketability of title.

What is an abstract of the title?

The abstract of title is a brief history of a piece of land, and it is used to determine whether or not there is any kind of claim against a property. The abstract of title includes encumbrances, conveyances, wills, liens, grants and transfers.

What controls the definition of marketable title in a real estate transaction?

What controls the definition of marketable title in a real estate transaction? Local law.

What is an example of a marketable title?

Suppose, for example, that Mary buys land from Bob. The contract of sale declares that Bob holds marketable title to the land. After paying Bob, Mary receives a letter from an attorney saying that a business called Lou’s Used Cars holds a lien on the property because Bob is using it as collateral for a car loan.

What does marketability mean in real estate?

A marketable title is a title that is free and clear of any defects or clouds that a reasonable buyer would find objectionable. This is a fairly stringent standard, but buyers should also be aware that a marketable title does not have to be a perfect title.

Who is usually responsible for providing marketable title to the property?

An implied promise in a contract when a seller is selling land to a buyer is that the seller will deliver marketable title to the buyer at the date of the closing. A title to a piece of land is considered unmarketable if there are encumbrances on the land, such as mortgages, unless the buyer waives them.

What generally gives a lien highest priority?

Liens generally follow the “first in time, first in right” rule, which says that whichever lien is recorded first in the land records has higher priority than later recorded liens. For example, a mortgage has priority over a judgment lien if the lender records it before the judgment creditor records its lien.

Who pays for the deed of sale in the Philippines?

All government taxes, transfer fees and incidental or miscellaneous expenses will be shouldered by the buyer, whereas the seller will pay for the capital gains tax equivalent to 6% of the selling price on the Deed of Sale or the zonal value, whichever is higher.

Which of the following can convey marketable title to a buyer?

A deed should convey good and marketable title; “good” means that the title is valid, and “marketable” means that it is reasonably free from doubt or litigation, so that it can be readily sold.

What is a good title in property?

To be a good root of title, a document must satisfy each of the following requirements: It must deal with or show the ownership of the whole legal and equitable interest in the land in question. It must contain a recognisable description of the property. It must not contain anything that casts any doubt on the title.

Which of the following would not be acceptable as evidence of marketable title?

Which of the following is not considered evidence of marketable title? A record of all previous owners of the property ( title insurance documents include all liens and defects of record and easements, but not the chain of title.

What is the legal title?

Absolute ownership of real property that is enforceable in a court of law. Legal title to real property is evidenced by a deed that is recorded in the public records in the county where the property is located.

What is a color title?

“Color of title” is a phrase used in property law that refers to a title to real property. It may have the appearance of good and valid title to a parcel of property, but in reality, does not provide full, legally recognized title to the parcel.

What is Defeasible title?

Title that can be made null and void or defeated upon the satisfaction of a claim or the completion of some future contingency.

What is an example of a title?

The definition of a title is the name of a person’s job, the name of a creative work or a word used before someone’s name to indicate his or her status. “Vice President of Marketing” is an example of a title. The Wizard of Oz is an example of a movie title. “Mr.” and “Mrs.” and “Dr.” are all examples of titles.

What is the highest noble title?

duke

Ranks and Privileges of The Peerage. The five titles of the peerage, in descending order of precedence, or rank, are: duke, marquess, earl, viscount, baron. The highest rank of the peerage, duke, is the most exclusive.

Is PhD a title?

PhD is an academic qualification, which can be appended after a person’s name after it has been awarded. It is not their occupational title.