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abstract and attorney's opinion of title

an option of title status based on a review of the abstract by an attorney, and in some areas used as evidence of title

abstract of title

a summary of what the title search found in the public records

actual notice

the information is not oly available, but someone has been given the information and actually knows it

certificate of title

a statement of opinion regarding title status on the date the certificate is issued

chain of title

record of a property's ownership

constructive notice

legal presumption that information may be obtained by an individual through diligent inquiry

marketable title

Good or clear title, reasonably free from the risk of litigation over possible defects

priority

refers to the order of rights in time

recording

the act of placing document in the public records

subrogation

Substitution of one creditor for another; used by title insurers to acquire from the injured party rights to sue in order to recover any claims they have paid

suit to quite title

a court action intended to establish or settle the title to a particular property, especially when there is a cloud in the title

title insurance

a contract under which the policy holder is protected form losses arising from defects in the title

title search

is an examination of the title to determine if any defects exist on the title

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