Title & Escrow Terms
/in Updates/by Adan GutierrezAffidavit: A written statement or declaration, sworn to before an officer who has authority to administer an oath.
CC&R’s (Covenants, Conditions, and Restrictions): A term used in some areas to describe the restrictive limitations which may be placed on the property. In other areas, only called restrictions.
Conveyance: Transfer of title to land. Includes most instruments by which an interest in real estate is created, assigned, or mortgaged.
Easement: A right created by grant, reservation, agreement, prescription, or necessary implication, which one has in the land of another.
Encroachment: Generally, construction onto the property of another, as of a wall, fence, building, etc.
Encumbrance: A claim, lien, charge or liability attached to and binding real property. Any right to, or interest in, land which may exist in one other than the owner, but which will not prevent the transfer of fee title.
Hypothecate: To pledge or mortgage without delivery of the security to the lender.
Ingress and Egress: A right to enter upon and pass through land.
Intestate: Without leaving a will, or leaving an invalid will, so that the property of the estate passes by the laws of succession rather than the direction of the deceased.
Probate: The court process by which a will is proved valid or invalid. The legal process wherein the estate of a decedent is administered.
Testate: Having written a last will and testament.
Trustee: An individual given control or powers of administration of property in trust with a legal obligation to administer it solely for the purposes specified.
Disclaimer: The above is for informational purposes only. The Company assumes no legal liability or responsibility for the accuracy.
Contact
Mail: info@allegiantreverse.comTF: 844.808.8299
905 Highland Pointe Dr., Suite 150
Roseville, CA 95678
Updates
- Title Tale: Title Tips for TrustsApril 18, 2024 - 10:09 am
Instead of Title Tales this month, how about Title Tips? Specifically, Title Tips for Trusts (say that ten times fast and see where your tongue ends up!). ARS specializes in reverse mortgages, and for obvious reasons there are many more trusts to review in proportion to orders than for any other loan type. They keep […]
- Title Tale: Power of Attorney ScenarioMarch 25, 2024 - 1:57 pm
Written by: Mylene Marcelo, Title Manager/Title Officer We have a current vesting deed adding son into title dated 2017 as joint tenants with rights of survivorship. The Deed was executed by a Power of Attorney (POA) made by Wilma, Principal to Fred Jr., as Agent. The POA was dated 1997. Wilma was competent at the time […]
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