Public Records & Recording
This is the act of placing a document in the public record.
What is recording?
Knowledge presumed because a document has been properly recorded.
What is constructive notice?
The history of ownership transfers for a property is called this.
What is chain of title?
This policy protects the property buyer from losses caused by title defects.
What is an owner's title insurance policy?
An attorney examines an abstract of title and issues this document.
What is an attorney's opinion of title?
These government records give the public information about ownership and interests in real estate.
What are public records?
Direct personal knowledge of a fact or property interest.
What is actual notice?
This process examines public records to discover defects, liens, or encumbrances.
What is a title search?
This policy protects the mortgage lender's financial interest in the property.
What is a lender's title insurance policy?
This document certifies ownership under a land registration system.
What is a certificate of title?
Documents affecting real estate are generally recorded in this location.
What is the county where the property is located?
A buyer inspecting a property and seeing someone occupying it may receive this type of notice.
What is actual notice?
A break in ownership records creates this problem.
What is a cloud on title (or break in the chain of title)?
Unlike hazard insurance, this type of insurance protects against defects that existed before closing.
What is title insurance?
This land registration method guarantees title through the state.
What is the Torrens system?
Recording helps establish this among competing claims.
What is priority?
Properly recording a deed gives everyone this type of notice, even if they never read it.
What is constructive notice?
This court proceeding establishes ownership when title is disputed.
What is an action to quiet title?
Before issuing a policy, a title company performs this examination.
What is a title search?
Buyers most commonly rely on this instead of an abstract of title today.
What is title insurance?
This system of recording protects buyers by providing notice of previously recorded interests.
What are recording acts?
These are the two basic forms of legal notice recognized in real estate.
What are actual notice and constructive notice?
This condensed written history summarizes all recorded transfers and encumbrances affecting a property.
What is an abstract of title?
This legal right allows a title insurer that pays a claim to pursue reimbursement from the responsible party.
What is subrogation?
A title that is free from reasonable doubt and acceptable to a prudent buyer is called this.
What is marketable title?