A form of insurance obtained from a title insurer who agrees to reimburse the insured for losses caused
by undiscovered defects in title.
If an owner of real property fails to pay property taxes, the government can obtain a lien on the property
for the amount of the taxes. If the taxes remain unpaid for a statutory period of time, the government
can sell the property at a
to satisfy the lien. Any excess proceeds are paid to the taxpayer. The
buyer receives title to the property. Many states provide a
period of redemption
after a tax sale during
which the taxpayer can redeem the property by paying the unpaid taxes and penalties. In these states,
the buyer at a tax sale does not receive title to the property until the period of redemption has passed.
Ownership of real property can be transferred by
. The gift is made when the deed to the property is
delivered by the donor to the donee or to a third party to hold for the donee. No consideration is
Real property can also be transferred by
will, trust, or inheritance
A situation in which a person who wrongfully possesses someone else’s real property obtains title to that
property if certain statutory requirements are met.
A situation in which a person holds an interest in another person’s property without actually owning any
part of the property.
A given or required right to make limited use of someone else’s land without owning or leasing it.