Term
|
Definition
condensed history of all documents affecting a parcel of real estate |
|
|
Term
|
Definition
information one actually knows |
|
|
Term
|
Definition
|
|
Term
|
Definition
after the end of period for which the payment is due |
|
|
Term
Attorney’s opinion of title |
|
Definition
lawyer’s statement after studying an abstract |
|
|
Term
|
Definition
|
|
Term
|
Definition
title traced from each owner to the following one |
|
|
Term
|
Definition
account of debits and credits for each party |
|
|
Term
|
Definition
information one could know by investigating |
|
|
Term
|
Definition
money due and payable to one party at closing |
|
|
Term
|
Definition
money to be paid by one party at closing |
|
|
Term
|
Definition
closing handled by a neutral third party |
|
|
Term
|
Definition
abstract, lawyer’s opinion, Torrens certificate, or title insurance |
|
|
Term
|
Definition
good or clear title reasonably free from defects |
|
|
Term
|
Definition
corrective distribution of future expenses |
|
|
Term
|
Definition
county’s collection of documents relating to real estate |
|
|
Term
Real Estate Settlement Procedures Act (RESPA) |
|
Definition
federal law ensuring that buyer and seller receive accounting |
|
|
Term
|
Definition
tax due the State of New Jersey at closing |
|
|
Term
|
Definition
court action to remove cloud on title |
|
|
Term
|
Definition
title company’s guarantee of clear title |
|
|
Term
Uniform Settlement Statement |
|
Definition
standard HUD-1, required by RESPA for buyer and seller |
|
|
