- The use of a title company or agency to supervise the closing meeting where the property is transferred and mortgage is finalized.
closing company, supervisor, firm
Related Terms and Acronyms
- Abstract of Title (ab) — Abbreviation,
➥ AB is a common abbreviation for Abstract of Title when used in property listings and real estate classifieds.
- A written history of all the transactions that bear on the title to a specific piece of land. An abstract of title covers the time from when the property was first sold to the present.
- Agent (agt) — Abbreviation,
- A person who acts on behalf of another. In real estate, an agent is a person who conducts transactions on behalf of sellers and sometimes buyers.
- Title Company — Definition,
- A company that checks a property's title for liens and other obstacles to sale, fixes any clouds to title, supervises the closing transaction, and makes sure that money transfers in a purchase are processed correctly.