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Glossary of Common Title Insurance Terms

 
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Abstract of Title

A condensed history or summary of all transactions affecting a particular tract of land.

Affidavit

A sworn statement in writing.

All-Inclusive Title Insurance

The majority of title insurance charges are included in one price.

Assumption

A mortgage that allows a new owner to take over payments.

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Closing

At closing, the title to a property is transferred from the seller to the buyer. Our title agency in Tampa Bay can help you with real estate closings, whether you’re a real estate broker, agent, bank, or individual. Call us today to help you with your real estate closing.

Deed

A written document in which the ownership of land is transferred from the seller to the buyer.

Deposit or Earnest Money

Advance payment of part of the purchase price to bind a contract for property.

Equity

Equity is the difference between the market value of your property and the claims held against that property.

Grantee

A person who acquires an interest in land by deed, grant, or other written instrument.

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Grantor

A person who transfers interest in land to another by a written instrument.

Heir

One who inherits property through a will.

Judgment

An order, decree, or sentence given by a judge or law court.

Lien

A claim on the property of another as security for the payment of a just debt.

Real Property

Land and that which is affixed to the land

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Survey

The process of measuring land to determine its size, location and physical description and the resulting drawing or map.

Title

A claim or right to the ownership of land. Our agency in Tampa Bay can help you obtain titles. Read more about the services we offer for real estate brokers, agents, banks, and individuals.

Title Insurance

Insurance against loss or damage resulting in defects or failure of title to a particular parcel of real property.
An examination of public records and court decisions to disclose the current facts regarding ownership of real estate. Our agency in Tampa Bay can help you with searches, whether you’re a real estate agent, broker, bank, or individual. Contact us now to help you with your search.

Transfer taxes

Money paid to the county and or state when property is sold.

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Will

A legal statement of a person’s wishes concerning the distribution of the property of the deceased.
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727-328-7575
Suncoast Title of Clearwater, Inc.
4111 16th Street North
St. Petersburg, FL 33703
 
 
 
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