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ABANDONED VEHICLE
Vehicle reported as abandoned. Vehicles that have been towed and remain unclaimed after the required notice is given. These vehicles are impounded by area law enforcement and sold at auction.
A.L.T.A.
American Land Title Association. Organization composed of title insurance firms which sets standards for the industry, including title insurance forms used on a national basis.
ABATEMENT
A reduction, a decrease, or a diminution. The suspension or cessation, in whole or in part, of a continuing charge, such as rent.
ABSTRACT
A brief summary of the important points of a given instrument.
ABSTRACT CONTINUATION
(Also known as abstract extension and also as supplemental abstract.) A partial abstract beginning at the terminal date of an existing abstract and showing instruments recorded between such terminal date and a subsequent date.
ABSTRACT OF TITLE
A summary of transactions affecting the title to a piece of land.
ABUT
To touch or border upon. A piece of land bordering on a street or an adjoining piece of property is said to abut such street or property.
ACCELERATION CLAUSE
A note, bond or other credit agreement clause advancing the date of maturity of a trust deed or mortgage upon the happening of a certain event.
ACCESS RIGHT
Landowner's right to have ingress and egress from landowner's property to a public street.
ACCOMMODATION
An obligation assumed without consideration.
ACCOMMODATION RECORDING
The recordation of an instrument without an assumption of responsibility for the correctness or validity of the instrument.
ACCOUNT
Right to payment of a monetary obligation, whether or not earned by performance, (i) for property that has been or is to be sold, leased, licensed, assigned or otherwise disposed of, (ii) for services rendered or to be rendered, (iii) for a policy of insurance issued or to be issued, (iv) for a secondary obligation incurred or to be incurred, (v) for energy provided or to be provided, (vi) for the use or hire of a vessel under a charter or other contract, (vii) arising out of the use of a credit or charge card or information contained on or for use with the card, or (viii) as winnings in a lottery or other game of chance operated or sponsored by a State, governmental unit of a State, or person licensed or authorized to operate the game by a State or a governmental unit of a State. The term includes health-care-insurance receivables. Term doers not include (i) rights to payment evidenced by chattle paper or an instrument, (ii) commercial tort .claims, (iii) deposit accounts, (iv) investment property, (v) letter-of-credit rights or letters of credit, or (vi) rights to payment for money advanced or sold, other than rights arising out of the use of a credit or charge card or information contained on or for use with the card.
ACCOUNT DEBTOR
Someone obligated on an account, chattle paper, or general intangibles.
ACCRETION
An increase of land on a shore or river bank by the gradual deposit of sand or soil by action of the water. (Also, see "Avulsion." )
ACKNOWLEDGMENT
A formal declaration before a duly authorized officer by a person who has executed an instrument that such execution is his act and deed.
ACRE
An area of land containing 43,560 square feet or 4,840 square yards.
ACTION IN PERSONAM
A court action that seeks a judgment against a person as distinguished from a judgment against property.
ACTION IN REM
A court action that seeks a judgment against property to determine its status.
ACTUAL NOTICE
Notice a party receives in fact or in reality.
ADDENDUM
Something which is to be added. An addition or supplement to an agreement.
ADJOINING OWNERS
Owners of two or more parcels of real property the parcels being contiguous to each other.
ADJUDICATION
Judicial determination of a case or controversy.
ADMINISTRATOR
Person appointed by a probate court as representative of a decedent's estate when the decedent left no will.
ADMINISTRATOR CUM TESTAMENTO ANNEXO
The representative of a decedent's estate when no one is named as executor, or when the person named is unable or unwilling to act.
ADMINISTRATRIX
A woman administrator.
ADVERSE POSSESSION
The unauthorized occupation of land belonging to another, by a person who does not have the consent of the owner. The occupier is said to hold possession adversely to the rights and interests of the owner. In most states, by operation of law, title to the land becomes vested in such occupier after a fixed number of years of actual, open, notorious, exclusive, peaceful and adverse occupancy.
AFFIANT
A person who has made an affidavit.
AFFIDAVIT
A written statement made under oath before a notary public or other judicial officer.
AFTER-ACQUIRED TITLE
Title acquired by a grantor who conveyed land before he owned it.
AGENCY
An individual or corporation authorized to act for another person or corporation. The scope of an agency depends upon the authority given to the agent.
AGENT
One who, having received authority from another, acts in the other person's behalf within the scope of the authority given.
AGREEMENT
A legally binding compact made between two or more persons.
AKA
Also known as.
ALIENATE
To transfer title to real property from one person to another.
ALIENATION
Transfer of title to land from one person to another. It is voluntary alienation if freely made; involuntary alienation when contrary to the owner's desire.
ALL-INCLUSIVE RATE
Rate which includes charges for title insurance, searching or abstract fees and examination fees.
ALLODIAL TENURE
The absolute ownership of real estate which is subject to inheritance by the owner's heirs or to disposition by the owner as he sees fit, as contrasted with the feudal system of ownership. Allodial tenure is characteristic of ownership in the United States.
AMORTIZED LOAN
A loan that is completely paid off, both as to principal and interest, by a series of regular payments that are equal or nearly equal.
ANCILLARY
In addition to.
ANCILLARY ADMINISTRATOR
Administrator appointed in a state other than the decedent's domicile.
ANNUM
Year.
ANTENUPTIAL AGREEMENT
Contract by a man and woman regarding their property, made in contemplation of their marriage. Also called prenuptial agreement.
APPRAISAL
Opinion as to value of property; a conclusion resulting from an analysis of facts affecting fair market value.
APPROVED ATTORNEY
An attorney whose opinion is acceptable to a title company as a basis for issuance of a title insurance policy by the insurer. The insurer, rather than the attorney, executes the policy.
APPURTENANCE
Anything incidental or belonging to land that is considered part of the real property.
APPURTENANT
Belonging to.
ARBITRATION
The process by which parties who cannot agree among themselves submit the dispute to the judgment of an impartial third party.
ASSEMBLED
Vehicle reported was assembled from a non-manufacturer designee.
ASSESSED VALUATION
The estimated value of property for tax purposes, usually fixed by the tax assessor.
ASSESSMENT
The act of fixing the amount of taxes or special improvement charges. (2) The amount of taxes or special improvement charges. Special improvement charges are usually for the costs of streets, sidewalks, sewers, etc.
ASSIGNEE
For example, the person who receives (is assigned) ownership of a contract or a mortgage by transfer from another.
ASSIGNMENT
(1) The act of transferring ownership of something from one person to another. (2) The instrument or paper by which one person transfers ownership of a right or an object to another.
ASSIGNMENT (TitleGuard)
The transfer of a property claim, property right, or property interest from one person or entity to another.
ASSIGNOR
For example, the person who transfers ownership of a contract or mortgage to another.
ASSUMPTION AGREEMENT
Undertaking or adoption of a debt or obligation primarily resting on another person.
ASSUMPTION FEE
Lender's charge for changing over and processing new records for a buyer who is assuming an existing loan.
ASSUMPTION OF MORTGAGE (or DEED OF TRUST)
Agreement by a buyer in which he assumes liability for payment of an existing note secured by a mortgage or deed of trust against the property.
ATTACH
The act of a sheriff or other court officer in taking possession of a person or property under the authority and direction of a writ or order issued by a court.
ATTACHMENT
A legal remedy to aid collection of a debt, usually incidental to a lawsuit against the debtor wherein the court issues a writ of attachment under the authority and direction of which the sheriff seizes property of the debtor and holds same pending the outcome of the lawsuit, keeping the property available for sale to pay any money judgment entered in the lawsuit.
ATTACHMENT (UCC)
The moment at which a security interest becomes enforceable against the debtor. For a security interest to attach, a number of events must have occurred: (i) value must have been given, (ii) debtor must have rights in the collateral, (iii) and either: (a) collateral must be in possession of the secured party by agreement of the debtor; or (b) secured party has "control" of the collateral if the collateral is investment property, a deposit account, electronic chattle paper, or a letter-of-credit right; or (c) the debtor must have signed a security agreement that contains a description of the collateral.
ATTESTATION CLAUSE
The clause in a deed or other instrument denoting that certain signatures are those of witnesses to the instrument.
ATTORN
To accept and acknowledge a new landlord.
ATTORNEY'S OPINION OR CERTIFICATE
The written statement of an attorney setting forth what she or he believes to be the condition of a real estate title.
ATTORNEY-IN-FACT
A person who is appointed to act as an agent for another.
AUCTION ANNOUNCED AS BROKEN ODOMETER
Auction reports odometer no longer records distance driven.
AUCTION ANNOUNCED AS EXCEEDS MECHANICAL LIMITS
Auction reports the actual mileage/kilometers is greater than odometer allows to be recorded.
AUCTION ANNOUNCED AS EXEMPT
Auction reports the vehicle is generally exempt from normal/mandatory odometer law.
AUCTION ANNOUNCED AS FLEET/LEASE AUTO
Auction reported vehicle as fleet or lease.
AUCTION ANNOUNCED AS FLOOD DAMAGE
Auction reports the vehicle was damaged by flood.
AUCTION ANNOUNCED AS FRAME DAMAGE
Auction reports the vehicle as having frame damage.
AUCTION ANNOUNCED AS GREY MARKET
Auction reports the vehicle entering the country did not meet U.S. safety and/or environmental standards.
AUCTION ANNOUNCED AS MAJOR DAMAGE
Auction reports the vehicle as having major damage.
AUCTION ANNOUNCED AS MFGR. BUYBACK/LEMON
Auction reports the vehicle was repurchased by the manufacturer or the vehicle has persistent automotive deficiencies.
AUCTION ANNOUNCED AS MUNICIPAL USE
Auction reports the vehicle was used by federal, state or local government agency.
AUCTION ANNOUNCED AS NOT ACTUAL MILES
Auction reports actual mileage is different than the odometer reading.
AUCTION ANNOUNCED AS ODOMETER ROLLBACK
Auction reports a possible odometer rollback.
AUCTION ANNOUNCED AS ODOMETER ROLLOVER
Auction reports a possible odometer rollover.
AUCTION ANNOUNCED AS REPAIRED/REPLACED ODOMETER
Auction reports the odometer has been repaired/replaced.
AUCTION ANNOUNCED AS REPOSSESSED
Auto Auction reported vehicle as repossessed.
AUCTION ANNOUNCED AS SALVAGE
Auction reports the vehicle as having been reported as a salvage vehicle.
AUCTION ANNOUNCED AS TRUE MILEAGE UNKNOWN
Auction reports the vehicle's actual mileage is unknown.
AUCTION ODOMETER READING
Auction reported the vehicle's odometer reading is from auto auction.
AUTHENTICATED
Includes not only a normal signature on a written document but also an electronic transmission.
AVIATION EASEMENT
An easement over private property which abuts and extends out from the end of airport runways, the easement restricting the graduated height of agricultural crops, bushes, trees and other objects in the take-off and landing path of aircraft.
AVULSION
A sudden and perceptable loss or addition to land by the action of water, or a sudden change in the bed or course of a stream. Black's Law Dictionary - 5th Edition (Also, see Accretion .")