Mortgage Glossary
Title
Defined by Onias Derilus, Mortgage Capital · NMLS# 1859012 · Florida licensed mortgage broker
Title is the legal right of ownership to a piece of real property.
What Title means
Holding clear title means owning the property free of undisclosed liens or competing claims. Title transfers from seller to buyer by deed at closing.
Florida example
Before a Florida closing, the title company searches public records to confirm the seller holds clear title. Any defects must be resolved so the buyer receives marketable, insurable ownership.
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