outline07 - Chapter 7 Title Examination and the Closing...

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Chapter 7 Title Examination and the Closing Process Lecture Outline Title examination—the process of verifying the ownership rights being offered by the seller of a property marketable title—title that is free and clear of all past, present, or future claims that would cause a reasonable purchaser to reject it insurable title—title that a reputable title insurance company is willing to insure title perfect of record—title for which public records indicate no defects whatsoever title opinion—a lawyers opinion of the quality of title to a property title insurance—an insurance policy that protects against existing but undiscovered defects in title to a property Title search—a detailed examination of all public records that reveals the ownership history of a property recording requirement—all states provide a system for recording documents that affects title to real estate grantor and grantee indexes—names of all persons or entities who have transferred or received interests in real estate
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outline07 - Chapter 7 Title Examination and the Closing...

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