Cloud on Title
Definition
- A claim on or against the title to a property that could decrease the ability to transfer ownership of the property to a buyer.
Synonyms
claim on title, roadblock
Related Terms and Acronyms
- Clear Title — Definition,
- Title not burdened by liens or legal questions.
- Deed (D) — Acronym, Very Important,
- A document that provides title to property and is filed with a country recorder.
➥ Used to transfer ownership of assets, often land or automobiles. - Examination of Title — Definition,
- A review of public records and title abstracts to determine the chain of ownership of a property.
- Fee Simple — Definition,
- Outright ownership of real estate, free of any liens or other claims against title.
- Fee Simple Defeasible — Definition,
- When a person has outright ownership of real estate (free of any liens or other claims against title), but the use of the property is restricted.
- Lien — Definition,
- A legal hold or claim of a creditor on the property of another.
- Tax Lien — Definition,
- A claim, or obstacle, to the sale of property because of unpaid taxes. The property's title can't be transferred until liens are paid.
- Title — Definition,
- Evidence of a person's right to possession ownership of a property.
- Title Insurance — Definition,
- Insurance that covers title defects and ownership challenges on a property.
- Title Report — Definition,
- A report that reveals any competing claims, liens, or other problems relating to a property. A title report is required before title insurance will be issued. Also known as a "Preliminary Title Report" or "Prelim."
