Legal ownership of a property and the bundle of rights that come with it — verified and insured before a real estate transaction closes.
Full Definition
Title refers to the legal ownership rights to a property. Holding clear title means you own the property outright with no other parties having competing ownership claims. Before a real estate closing, a title company conducts a title search — reviewing historical public records to identify any liens, encumbrances, judgments, unpaid taxes, easements, or other issues that could affect ownership. The search covers the property's full chain of ownership. Most lenders require a lender's title insurance policy to protect against undiscovered title defects. Buyers also purchase an owner's title insurance policy for their own protection. Title can be held in different forms: sole ownership, joint tenancy, tenancy in common, or in an LLC or trust.
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Whether you're buying a home or building a mortgage career, Lend Loft has the tools, training, and licensed support to get you there.