Definition from Nolo’s Plain-English Law Dictionary
The written analysis of a real estate title search, including a property description, names of titleholders and how title is held (joint tenancy, for example), tax rate, encumbrances (mortgages, liens, deeds of trust, recorded judgments), and real estate taxes due. A title report is needed before a lender will agree to finance purchase of the property. A title report is prepared by a title company, an abstracter, an attorney, or an escrow company, depending on local practice.
Definition provided by Nolo’s Plain-English Law Dictionary.
August 19, 2010, 5:25 pm