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GLOSSARY

Canadian Financial, Real Estate and Mortgage Glossary

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Land Title


Synonyms:land registration, legal document, title to property
Filed Under: legal-contracts, real-estate
Tags: contract, legal, realty
 

Definition of land title

land title
1. The legal document conveying title to a property.

Related Terms and Acronyms:

  • abstract of title (ab)   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.
      ➥  AB is a common abbreviation for Abstract of Title when used in property listings and real estate classifieds.
  • certificate of sale   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   A written document stating that the title to a piece of property is legally vested in the present owner.
  • chain of title   Legal records that trace ownership of a property from the most recent owner to the original owner.
  • contract for deed (CFD)   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.
  • land contract (LC)   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.
  • lis pendens   A legal document giving notice that an action or proceeding is pending in the courts which affects the title to the designated property.
  • title   Evidence of a person's right to possession ownership of a property.
  • title insurance   Insurance that covers title defects and ownership challenges on a property.
  • title report   A report that reveals any competing claims, liens, or other problems relating to a property. A title report is required before title insurance will be issued. Also known as a "Preliminary Title Report" or "Prelim."

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