Adverse Possession - Possession inconsistent with the right of the record owner.
Deed - A written instrument duly executed and delivered for the purposes of conveying title to real estate.
Defect Of Record - Any encumbrance on a title which is made a part of the public record. Some recorded defects are: judgments, mortgages, other liens, easements, etc.
Easement - A privilege or right of use or enjoyment which one person may have in the lands of another; for example, a right-of-way for utility lines, joint driveway, etc.
Encroachment - The building of a structure or any improvements partly or entirely intruding upon the property of another.
Encumbrance - Any right to or interest in land which may be held by third parties to the lessening of the value of the title to real estate; such as a judgment, unpaid taxes, other liens, easements, etc.
Equity - The interest or value which an owner has in real estate over and above the debts against it.
Grantee - The buyer of real estate.
Grantor - The seller of real estate.
Lien - A hold or claim which one person has upon the property of another as a security for some debt or charge.
Mortgagee - The lender under a mortgage.
Mortgagor - The borrower under a mortgage.
Restriction - A limitation placed upon the use of real estate. Some common restrictions are setback lines prohibiting the erection of any part of a building less than a specified number of feet from the street line.
Title - The sum of all the facts on which ownership is founded, or by which ownership is proved. Possession, the right of possession and the right of property form a complete title.
Tide Defect - Any circumstance that adversely affects or restricts the title or marketability of the property.
Title Failure - Any circumstance that defeats the right of whole ownership of property by the owner of record.
Title Search - The examination of records comprising a history of the title to real estate.
Warranty Deed - A deed containing a covenant whereby the grantor agrees to protect the grantee against any claimant not recited in the deed.