- A document that provides title to property and is filed with a country recorder.
Used to transfer ownership of assets, often land or automobiles.
contract, legal document, title, note
deed of land, title
Related Terms and Acronyms
- Back Title Letter — Definition,
- A document that a title insurance company gives to an attorney specifying condition of the title.
- Bill of Sale Deed (BSD) — Acronym,
- Certificate of Sale — Definition,
- An affidavit issued at a judicial or tax sale that entitles the buyer to the deed to the property purchased after court confirmation.
- Certificate of Title — Definition,
- A written document stating that the title to a piece of property is legally vested in the present owner.
- Chain of Title — Definition,
- Legal records that trace ownership of a property from the most recent owner to the original owner.
- Claim — Definition,
- A creditor's assertion of a right to payment from a debtor or the debtor's property.
- Clear Title — Definition,
- Title not burdened by liens or legal questions.
- Closing — Definition,
- In real estate, the delivery of a deed, the payment of the purchase price, the signing of notes, and the paying of closing costs, which completes a real estate transaction.
- Cloud on Title — Definition,
- A claim on title to property that could impair the ability to transfer ownership.
- Contract For Deed (CFD) — Acronym,
- An agreement for sale of property in which the buyer takes possession while making payments, but the seller holds title until full payment is made. Also called a land contract.
- Covenant — Definition,
- A promise made in a contract or property deed.
- Deed to Secure Debt (DSD) — Acronym,
- Land — Definition,
- The solid ground of the earth. This can include everything under it and over it. For example, Condominium Acts do divide land horizontally thereby limiting the vertical ownership.
- Land Contract (LC) — Acronym,
- An agreement for sale of property in which the buyer takes possession while making payments, but the seller holds title until full payment is made.
- Reconveyance — Definition,
- The transfer of title to the borrower after a mortgage has been paid fully.
- Title — Definition,
- Evidence of a person's right to possession ownership of a property.
- Title Search — Definition,
- A check of public records to make sure that the owner of real property has the right to transfer ownership. A title search is designed to spot gaps in the chain of title, liens, problems with the legal description of the property, judgements against the owner, and the like.