Lien for nonpayment of
Public sale of property at
an auction by a governmental
authority, due to non payment of
by the Entirety
A form of
ownership by husband and wife whereby
each owns the entire property. In
event of the death of one, the
survivor owns the property without
Is of the Essence
Legal phrase in
a contract requiring punctual
performance of all obligations.
Often used interchangeably with
the word ownership. It indicates the
accumulation of all rights in property
by the owner and others.
Escrow and Closing Agent Fees
companies charge various fees for
An insurance policy
which protects the insured (purchaser
and lender) against loss arising from
defects in title.
A review of the public
records to make sure that no adverse
claims affect the value of the title.
in Lending Statement (Regulation Z)
federal government regulation that
provides details of the cost of
obtaining a mortgage loan. Lenders
must provide this shortly after the
loan application has been completed.