A measurement of land that is 66 feet in length.
Chain of title
A full, chronological list of recorded documents that affect the title of a property.
A title that is clear and unburdened with defects.
The final, legal act of a transaction, where contracts are agreed upon and finalized, and monies are exchanged.
The final costs encountered in a real estate transaction. These costs include title examination, title insurance, attorney
The form that outlines monthly principal and interest payments, fees and other general loan terms.
Cloud on title
A title with present, unresolved restrictions
Commitment to Insure
The obligation of a title insurer to insure a property.
- A community owned area within the confines of the community, such as a pool or clubhouse.
Common Interest Community (CIC)
Ownership of common areas, by way of joint venture or through membership in an association; common examples of CICs are condominiums, townhomes, and time share properties.
In Texas, property is classified as
The comparison of two properties that is used in order to determine the value of a specific property.
Comprehensive Market Analysis
Using data from the sale of properties with similar characteristics in order to estimate the value of a certain property.
Exercised through public authorities through the power of eminent domain, condemnation occurs when taxpayers own some real property in an area that has been designated for public use.
Private ownership of individual units located within a larger, multi-unit complex; the public amenities are owned collectively
Appointed by a judge, this guardian manages the financial affairs as well as daily life because of physical limitations or age.
A loan on the short-term that is used for home construction or other construction.
Construction to Permit Loan
A short-term construction loan that is transformed into a long-term traditional mortgage after the course of construction has been completed.
Under contract, this is an item that is contingent on the fulfillment of a specific condition
Contract for Deed
When an owner wants to sell a property in Texas, this contract is a financing tool a homeowner can use in order to finance the sale.
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