Speaking Title Legalese

Legally speaking when you hear someone talking about a “title” they’re referring to a document stating who has legal ownership and legal right to possess a piece of property. “Legal Right” is an idea, or concept that can be applied to any item, most of the time the concept is discussed in terms of real estate. (It’s also discussed about vehicles, but we concentrate on homes at Gables Title Group.)

Defective Title

• This title is somehow “impaired”. This “defect” or impairment, could stem from a lien, judgment, the owner’s mortgage, or any other encumbrance. Because other parties can lay claim to the title it cannot legally be transferred to the buyer.

Liens

• These are like micro-mortgages placed on a property to force an owner who is delinquent in paying an account or work done on the property to pay their debt. The most common lien is a mechanic’s lien. Other forms include unpaid child support and unpaid taxes.

Past Ownership Claims

• This is seen through a chain of title, which is the history of ownership of the property. This is maintained, usually by registering and updating documentation with a centralized or authoritative body.

Easements

• This is, in basic terms, a right-of-way promise made with someone who doesn’t have any ownership of a property. Like letting a neighbor use your garden because they grow veggies and your house has better sunlight access. This wouldn’t be written into a deed but established by continuous conduct.

Adverse Possession

• The occupation of land to which another has the title, with the intention of possession as one’s own. Basically, a doctrine in which a person or entity acquires possession of land owned by someone else.

That’s enough jargon and legal terms for today. If you have questions about any of the above-described items or would like to start getting your property’s title gives Gables Title Group a call and we’ll be more than happy to let you know what the title report really says.