Affidavit: 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.
- ARS Calculator Update: North CarolinaJune 19, 2017 - 12:15 pm
The ARS Calculator has been updated to reflect a new fee in North Carolina. A $15 commitment fee will apply to all mortgage transactions, effective June 9 2017. We stand behind our rate calculator, which is why we advise you to pull a new quote for each application, to ensure you are receiving a current […]
- June WebinarsJune 13, 2017 - 3:07 pm
Reverse mortgages are complex and being prepared is key to a successful closing. We are happy to share our experience and knowledge with you and together we can make the borrower’s experience a pleasant one. Title Review 101 June 14, 2017 – 10:00am PST/1:00pm EST Please join us for our upcoming webinar on Title Review […]
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