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Definitions (145)
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warranty
In a broad sense, an agreement or undertaking by a seller to be responsible for present or future losses of the purchaser occasioned by deficiency or defect in the quality, condition or quantity of th [..]
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abstract
A history of all transactions shown in the public records affecting a particular tract of land.
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abstract plant
Also called “Title Plant” in some areas. A geographically filed assemblage of title information that helps in expediting title examinations, such as copies of previous attorneys’ opinions, abstracts, [..]
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acceleration clause
Condition in a mortgage that may require the balance of the loan to become due immediately, if regular mortgage payments are not made or for breach of other conditions of the mortgage.
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adjustable rate mortgage
Mortgage loans under which the interest rate is periodically adjusted, in accordance with some market indicator, to more closely coincide with the current rates. The extent and number of these adjustm [..]
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adverse possession
The possession, by one person, of land belonging to another in a manner deemed adverse to the interest of the owner. In most states, by operation of law, title to the land becomes vested in such perso [..]
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affidavit
A written statement made under oath before a notary public or other judicial officer.
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agreement
A legally binding contract made between two or more persons.
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