Marketable title
Title that is free from reasonable doubt or any sort of threat of litigation. An implied promise in a contract when a seller is selling land to a buyer is that the seller will deliver marketable title to the buyer at the date of the closing.
A title to a piece of land is considered unmarketable if there are encumberances on the land, such as mortgages, unless the buyer waives them. Title is also unmarketable if the land was obtained through adverse possession, or if the land violates any zoning laws.
Definition from Nolo’s Plain-English Law Dictionary
See: clear title
Definition provided by Nolo’s Plain-English Law Dictionary.
August 19, 2010, 5:19 pm
