Terminology Tip: CLEAR TITLE - A clear title is a title that is free of encumbrances, such as liens, deed restrictions, encroachments and some easements. In other words, the property is owned outright and no ownership claims exist against it. A clear title is a necessary requirement in any real estate transaction, and mortgage lenders require proof of clear title before they approve a mortgage loan. Also referred to as good title.
Posted on: Wed, 31 Jul 2013 20:09:28 +0000
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