Title Report

Definition

  • A report that discloses whether there are any competing claims, liens or other problems relating to a property. This must be done before title insurance is issued. Also known as a "Preliminary Title Report" or "Prelim."

Synonyms
land title report, record, statement, documentation

Alternate Spellings
deed

Related Terms and Acronyms

  • Back Title Letter Definition,
    • A document that a title insurance company gives to an attorney specifying condition of the title.
  • Certificate of Title Definition,
    • A written document stating that the title to a piece of property is legally vested in the present owner.
  • Clear Title Definition,
    • Title not burdened by liens or legal questions.
  • Cloud on Title Definition,
    • A claim on title to property that could impair the ability to transfer ownership.
  • Examination of Title Definition,
    • A review of public records and title abstracts to determine the chain of ownership of a property.
  • Fee Simple Definition,
    • Outright ownership of real estate, free of any liens or other claims against title.
  • Fee Simple Defeasible Definition,
    • When a person has outright ownership of real estate (free of any liens or other claims against title), but the use of the property is restricted.
  • Land Title Definition,
    • The legal document conveying title to a property.
  • Land Titles System Definition,
    • This is a system of land registration under which the registrar or master of titles passes on the validity of the instrument, determines its legal effect, and the Government guarantees title.
  • Property Report Definition,
    • A legal document prepared by a surveyor that shows the locations of all visible public and private improvements relative to property boundaries.
    • A legal disclosure that developers of timeshare properties are required to give to prospective buyers.
  • Title Definition,
    • Evidence of a person's right to possession ownership of a property.
  • 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.
  • Title Insurance Definition,
    • Insurance that covers title defects and ownership challenges on 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.
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