Level 12: Transfer of Title

6 covenants in a general warranty deed

1) Covenant of seisin: The grantor states that they hold the title that is being conveyed in the deed. That's always good news. 2) Covenant of right to convey: The grantor warrants that they are the property owner and have the right to convey title. If this is broken, the grantee can recover the full purchase price. 3) Covenant against encumbrances: The grantor warrants that the property is free from liens or encumbrances (except those named in the deed). If this covenant is broken, the grantee can sue for the cost of removing the encumbrance. 4) Covenant of quiet enjoyment: The grantor guarantees that the title is good against any third party who might bring court actions to establish superior title to the property. 5) Covenant of further assurances: The grantor promises to obtain and deliver any instrument needed to make the title good. 6) Covenant of warranty forever: The grantor guarantees that they will compensate the grantee for losses if the title fails in the future. The grantor will help the grantee handle any third party claims to the title.

2 types of Short Sales

1) The lender forgives the debt. (This is considered debt forgiveness and at times has been taxable income for IRS purposes; clients should check with a tax consultant.) 2) The lender requires the buyer to sign a note to repay the difference between the amount due on the mortgage and the amount they receive at the time of the sale. In this instance, the debt is not forgiven.

Conveyance (Deed)

A deed is the legal document that transfers real estate title from one party to another. The purpose of using deeds is to have official records showing when property changes hands. It proves that the holder of the deed has ownership of the property. All deeds must be in writing.

Most real estate transactions use a deed of trust as the security instrument. A deed of trust is a right to real property being held by one party for the benefit of another. Whereas a mortgage creates a lien on a property for the lender, a deed of trust literally gives the right to the property to another party.

A deed of trust can go by several different names: * Security deed * Deed to secure debt With a deed of trust, the right to real estate is held by another party until the terms of the loans are satisfied. There are two things that can happen: - If the borrower pays off the loan, the third party will reconvey the property to the borrower. - If the borrower defaults on the loan, the third party will reconvey the property to the lender.

A gift of personal property left by a will is known as a legacy or bequest - for example, a diamond ring. The person receiving the personal property is known as a legatee. 💍

A gift of real property left by a will is known as a devise. The person who receives real property by will is known as a devisee. 🏠 The devisee would be considered the owner of the real property immediately upon the original owner's death.

Legal Descriptions of Land

A legal description is a description of a property that is distinct and precise enough to distinguish it from all other properties. These descriptions can be used by courts to clarify any potential disputes about the property. That means that a sales contract must contain a legal property description that uniquely identifies the property involved in the transaction.

2 Special Purpose Deeds: Master deed & Deed in trust

A master deed is a deed used to convey land to a condominium developer. As a real estate professional, you can expect a master deed to be in use if, in fact, you find yourself involved in the sale of land to condominium developers. A deed in trust is a deed used to convey ownership interest to the trustee under a land trust, which is a trust in which land is purchased to be held for a long period of time for the benefit of a named party. The deed in trust grants the trustee (specifically, the trustee of a land trust) the power to sell or divide a parcel of land. Under the terms of the trust agreement, the beneficiary is able to control the scope of the trustee's powers.

Short Sales

A short sale is a sale in which the lender will agree to accept less than what is actually due on the mortgage before the property goes into foreclosure.

Opinion of Title A prospective borrower or buyer can use an opinion of title as evidence of title. This is the official opinion of an attorney regarding the condition of a property's title. The opinion of title is created by searching title records.

Abstract of Title When the attorney or title company performs the title search, analyzing the chain of title, clouds, and all that jazz, the result is an abstract of title. As opposed to a thorough and exhaustive chain of title, an abstract of title is an abbreviated history of a property, including info on any transfers, grants, wills, conveyances, liens, or encumbrances. It's a report detailing what was discovered in the title search. The person responsible for preparing this report is called an abstractor.

Involuntary Alientation (Accession)

Accession is the right to all that one's own property produces, including that which is added, either naturally or by human action, to the property already owned. Natural means of accession include the gradual accumulation of rock, the recession of a lake or river, or the accumulation of water-borne soils. Artificial accession occurs through labor and human-made improvements. This process does not employ or require an instrument of conveyance, like a deed.

Involuntary Alienation (Adverse Possession)

Adverse possession is the involuntary transfer of title from an owner who does not use or inspect their land for a number of years to another person who has some claim to the land and takes possession. The possession must be open, notorious, and hostile for 10 years.

Alienation: bundle of rights with regards to a piece of property in which a party may own a legal or equitable interest.

Alienation may be: - Voluntary, usually by sale or gift (process that takes place when a seller conveys a property to a buyer) - Or involuntary, usually by an operation of the law

Spouses If a decedent is survived by a spouse, that person is generally first in line to inherit property. In Michigan, assuming the absence of a prenuptial agreement, a spouse will be entitled to $150,000 plus half of the estate assets. The other half will be given to the decedent's child or children, if applicable. If there are multiple children, their share will be split equally among them. If the decedent did not have a living spouse at the time of their death, any surviving children will share the whole estate.

Children The law makes provisions for adopted children. When they have been legally adopted, they are considered heirs of the adopting parents but will not be considered heirs of ancestors of the adopting parents. Stepchildren and foster children will only inherit if they were legally adopted. Grandchildren may inherit property in their parent's place if their parent (the decedent's child) died before the decedent.

Cloud on the Title: Example 1 How about an example of a cloud on the title? Let's say that Mary dies and her estate was not probated (the validity of the will was not established), but Mary's niece Caitlan, who served as her in-home caretaker during her final years, takes the deed and assumes ownership of the property. If Caitlan later wishes to sell the property, she may need to locate others who should have been a part of the inheritance. Any other relatives may have to "sign off" on the property indicating that they did not expect anything from the deceased's estate and then the sale can move forward. Caitlan's agent will want to ask her the right questions to surface any potential clouds on the title, including possible inheritance disputes that may complicate the transaction. In this situation, it would be wise for Caitlan to consult an attorney before proceeding with the sale.

Cloud on the Title: Example 2 An additional cloud on the title could be created by some type of fraud. For example, there are cases in which a land developer sells the same tract of property to more than one person, even though they know that the originator of the subdivision will be long gone when the parties find out that they all think they are rightful owners of the subject lot. This issue can be resolved, but usually to only one person's satisfaction.

Constructive Notice vs. Actual Notice

EXAMPLE Property owner Josh records his deed, making it available through county records. Josh has just given constructive notice of title to the general public. Potential buyer Audrey sees a "For Sale" sign on Josh's lawn. She looks up public records to find out more information about the property. She has now seen, with her own eyes, the ownership information - meaning that she has received actual notice. Alternatively, if Audrey didn't want to go through all that trouble, she could have just visited the property to see if anyone was currently in possession. That's also actual notice.

Involuntary Alienation (Eminent Domain)

Eminent domain is the right of the government to take private property for public use. The proposed use of the land must be for the greater good of the public. In the United States, just compensation must be paid for private property acquired by eminent domain. They must sell their land to the government, but Michigan landowners do retain the right to challenge the amount of compensation offered to them.

Condemnation (also called appropriation) is the legal process of acquiring private property for public use through the government's power of eminent domain.

Eminent domain is the right; condemnation is the action.

Disinherited Heirs Assuming that they died testate, parents have the ability to disinherit their child in their will. This must take the form of a very clear written statement within the will. If a parent dies without a will, any and all surviving children will be entitled to their share of the estate as distributed according to the laws of intestate succession.

Escheat The chain of heirs goes beyond spouses, children, parents, and siblings. If someone dies and is not survived by any of these types of relatives, property will be transferred to surviving grandchildren, grandparents, cousins, nephews, and nieces. If there are no claims made by creditors on the property and no heirs are found, it will escheat to the state. This is a last resort when absolutely no living relatives can be found.

Important Measurements to Know: 1 township = 36 sections 1 section = 640 acres (a square mile) 1 acre = 43,560 sq. ft. 1 mile = 5,280 linear feet

Even though most of this is up to surveyors, agents need to know how to explain what survey drawings mean to their clients.

Standard Coverage A standard coverage owner's policy usually insures against the following: * Defects found in a public record search * Forged documents * Incompetent grantors * Improperly delivered deeds * Liens and encumbrances recorded, attached, filed, or created prior to the deed's recording

Extended Coverage If a lender requires it, a borrower will need to have extended coverage. As the name suggests, extended coverage provides protections that extend beyond what is insured under a standard coverage policy. Lenders often require that the lender's policies have extended coverage. But owners have the option to extend the coverage on their owner's policies as well. An owner's policy with extended coverage insures against items such as: * Certain unrecorded liens not known by the policyholder * Water rights * Mining claims * Off-record easements * Unrecorded claims * Defects discoverable through a property inspection and examination of survey

Present Covenants Present covenants make guarantees to the grantee about the present state of the title. These include the covenant of seisin, the covenant of right to convey, and the covenant against encumbrances.

Future Covenants Future covenants express the grantor's ongoing commitment to the grantee as well as any future grantees who own the property next. The title will remain good for the grantee(s), with no mistakes or wrongdoing committed by the grantor. Future covenants include the covenant of quiet enjoyment, the covenant for further assurances, and the covenant of warranty forever.

Types of Deeds: A Recap

General warranty deed: "I own this property and I can vouch for the title." Special warranty deed: "I own this property and I can vouch for the title only during the time that I have owned it." Bargain and sale deed: "I own this property, but I can't guarantee anything beyond that." Quitclaim deed: "I'm conveying my ownership interest to you, whatever that may be, and I may not even have ownership interest at all." ‍♀️

Involuntary Alienation (Escheat)

If an individual dies without a will and has no surviving spouse, lineal descendants, or other known heirs, the decedent's property passes to the state by the legal doctrine of escheat. Through escheat, the decedent's ownership interest in any property is transferred directly to the state without their consent.

Rectangular Survey System: Ranges

In a rectangular survey system, range lines run parallel to the meridian, running north and south. The columns that range lines create are called ranges.

The habendum clause is a clause within a deed that clarifies the type and extent of interest conveyed by the granting clause. If you see the words "to have and to hold", you're most likely looking at a habendum clause.

It serves the purpose of defining or limiting the ownership interest of the grantee (such as a fee simple, defeasible fee, or life estate interest). A habendum clause should follow the granting clause, and its provisions must agree with those set down in the granting clause. The habendum clause is very important in the state of Michigan. If it's missing from the deed, the legality of the transfer isn't clear and the title is considered unmarketable.

Equitable title is an ownership interest created by a financial investment in a property by either a lienholder or buyer. So while you as the property owner may hold legal title to the property, your lender is said to hold the equitable title.

Legal title refers to the complete legal ownership of real property and the bundle of rights associated with it.

Metes and bounds is a land survey process in which a licensed land surveyor starts at a readily identifiable point of beginning and defines the boundaries of a property in terms of distances and compass directions, finally returning to the point of beginning.

Metes refers to the distance measurements used in the description. Distances are often expressed in feet. Bounds are the compass directions used in creating the boundaries that enclose a parcel of real estate. So, when you hear "metes and bounds," think of it as "distance and directions." It helps to picture a surveyor walking around the border of a property and describing what they see and in what direction they are traveling.

Acknowledgment is not essential to the validity of a deed. However, a deed without acknowledgment cannot be recorded in most states, including Michigan. To help ensure good title, a grantee should always make sure that the grantor's signature on a deed be authenticated by acknowledgment.

Once acknowledged, the deed can be recorded.

Title companies issue several types of insurance policies, the two most common being the owner's title insurance policy and the lender's title insurance policy (sometimes called mortgagee's title policy).

Owner's Title Policy An owner's policy protects a new owner (the buyer) from claims against the property that existed before it was purchased but are discovered after closing. This type of policy remains effective for as long as the owner or their heirs own the property. The policy covers the purchase price of the house and can be negotiated within the contract, meaning that the seller or buyer could cover the cost of the owner's policy. Lender's Title Policy A lender's title policy will protect the lender from unknown existing defects on the title. Typically, this policy is part of the lender's loan package (paid for by the buyer) and covers the balance of the mortgage. A lender's title policy assures a lender that it has a valid first lien (or in some cases second lien) against the property. Should a claim arise that voids the title, the policy will repay the mortgage, protecting the lender from loss. Reimbursement on a lender's title policy is limited to the amount remaining on the loan balance, meaning that coverage decreases as the buyer's loan is paid off.

The government survey system may also be called the rectangular survey system or public land survey system. It was developed by the federal government to improve, simplify, and standardize surveying.

Physical monuments and boundary descriptions aren't required. The government survey system method depends on a grid using the longitude and latitude system of mapping.

Block and Lot terms to know

Plat: a drawing of a development used in the block and lot method (Keep in mind, this is called a "plat" and not a plot. A plot is what you get buried in.) Parcel: a part or portion of land; often used to identify a specific lot within a larger tract of property Lot: an individual piece of land measured and defined by the metes and bounds system Block: a collection of lots Tract: the totality of the property represented on a plat

Quitclaim Deeds A quitclaim deed is a type of deed that conveys any interest, title, or right to a parcel of land the grantor has at the time the deed is executed. The grantor does not represent that there is any interest at all. A quitclaim deed provides the grantee with the least protection of any deed, while putting the least liability on the grantor. It carries no covenants or warranties and conveys only such interest that the grantor may have when the deed is delivered.

Quitclaim deeds allow the grantor to transfer an uncertain interest in real property. If the grantor has no interest, the grantee will acquire nothing, nor will the grantee acquire any right of warranty claim against the grantor. In other words, a quitclaim deed basically says, "I'm conveying my ownership interest to you, whatever that may be, and I may not even have ownership interest at all." Quitclaim deeds are frequently used to correct a title defect usually discovered after the fact. While it carries no covenants or warranties for the grantee, it is used to correct a title issue. A misspelling of the seller's (grantor) or buyer's (grantee) name, an incorrect legal description, or a recorded easement that was missed are all examples of problems that a quitclaim deed can solve. In addition to correcting title defects, a quitclaim is also used when a property transfers ownership without being sold — a fairly common occurrence when transfers occur between family members (for example, spouses going through a divorce).

Difference Between Title and Deed

Recap: A grantor transfers title to a grantee using a deed. Title = Abstract concept of ownership (bundle of rights with regards to a piece of property in which a party may own a legal or equitable interest) Deed = Physical document that transfers ownership

Requirements for a Valid Deed For an instrument to qualify as a deed, it must contain the following: - A competent grantor - Name of the grantee - Granting clause, a.k.a. words of conveyance - Statement of consideration - Legal description of the property being conveyed - Habendum clause - Limitations - Exceptions and reservations - Acknowledgment of the grantor's signature - Delivery and acceptance

Remember: Consistency A grantor's name has to be spelled correctly and consistently throughout the deed. If, for any reason, a grantor's name has been changed from what it was when the title was originally acquired, they must show both names. EXAMPLE "John Smith, now known as Jamie Smith"

Benefits of Recording Recording is not always necessary to make a deed valid. * Recording the deed gives the public constructive notice of the grantee's ownership. * It's also indestructible: even if the original deed is destroyed, another copy can be obtained from the county clerk's office. * It establishes the priority of ownership claims, which is helpful in the event of any discrepancy. * If the deed is unrecorded, it may be difficult for the new owner to transfer the deed when they go to sell.

Requirements for Recording In order to record a deed, certain requirements must be met: * The deed must be valid, containing all the elements of a valid deed that you just learned about. * The grantor and grantee should be identified by address on the deed. Tax authorities need to know where to send tax bills, so a certificate of address for the grantee is needed. * A notary or other public official should be the legal witness to the grantor's acknowledging signature. Names should be printed under signatures. * A stamp or some other kind of evidence of real estate transfer tax is required. Any past-due taxes should also be resolved.

Each 36-square-mile township is then divided into 36 individual square-mile areas called sections.

Sections can then be divided into halves (320 acres) and quarters (160 acres). Those halves and quarters can then be halved and quartered again.

Judicial Deeds Judicial deeds are executed pursuant to court order. Full consideration is usually stated in these deeds. Ownership is generally implied, but judicial deeds usually don't contain any covenants or warranties. If a covenant is present, it typically states that the grantor hasn't encumbered the property.

Several kinds of deeds fall under the broad category of judicial deeds. They're all products of some kind of court order, but they are further defined by the role of the person who executes the deed. They include: - Guardian's deed: used by a court-appointed guardian to convey property for an incompetent grantor or minor (aka conservator's deed) - Executor's deed: conveys title from a deceased person to the heirs named in their will - Administrator's deed: used to convey title from a deceased person to their heir when there is no will - Sheriff's deed: conveys property from a sheriff's auction, when property is sold because of a court judgement against an owner (for example-foreclosure) - Referee's deed: used to convey property in foreclosures and bankruptcies - Tax deed: used to convey property at a tax foreclosure sale (aka treasure's deed) - Deed in lieu of foreclosure: alternative to foreclosure in which the defaulting borrower voluntarily transfers the property title to the lender. As a result, the borrower cancels the foreclosure.

Certificate of Title After performing a title search, the attorney will prepare a certificate of title, which is a document detailing the chain of title and offering an opinion on the marketability of the seller's title. Think of it as a written certificate of the attorney's opinion of title. The certificate of title is one method sometimes used to prove ownership but it is important to keep in mind that it does not always guarantee ownership.

Similar to an abstract of title, it certifies the title condition, based on information present in public records. However, hidden defects may not be detected, and unrecorded liens will not turn up in a search of public records. A certificate does NOT offer defense against these unknown defects.

Constructive notice means that a property's ownership is recorded publicly, so everyone can know the contents of recorded documents. There's also actual notice, which is direct or first-hand knowledge of the property's ownership, but may not necessarily be contained in the public record.

So, recording a deed provides constructive notice of the property's ownership. Constructive notice is one of the main reasons why recording is so important.

Bargain and Sale Deed This brings us to the third type of deed: a true bargain and sale deed, which is a deed without any covenants or warranties against encumbrances. It only implies that the grantor has possession of the property and holds the right to convey title.

Sometimes this is called a deed without warranty. Without warranties, the grantee has little legal recourse if defects later appear in the title. Plenty of lenders won't want to fund a mortgage if the deed will be a bargain and sale deed.

Math Practice: Finding Acreage and Square Footage Let's say we are interested in finding the acreage of N 1⁄2 of SW 1⁄4 of NE 1⁄4. Remember: One section is equal to one square mile, which is equal to 640 acres.

Step 1: Plug the variables into the equation To find the acreage, we would need to multiply 640 by the fractions of the lot given in its description. Answer: 640 acres x 1⁄2 x 1⁄4 x 1⁄4 = Lot acreage Step 2: Solve Remember, we could solve this problem using decimals or fractions. The way to find half of something is to divide by 2 or multiply by 0.5. To find a quarter, divide by 4 or multiply by 0.25. So, the same equation looks like this: 640 acres ÷ 2 ÷ 4 ÷ 4 = 20 acres Answer: The lot is 20 acres. Step 3: Convert the acreage to square footage If you need to find the square footage of that same area, you would just need to multiply the acreage by 43,560 (the square footage of an acre, remember?). 43,560 sq. ft. x 20 acres = 871,200 sq. ft. Final Answer: The area is 871,200 sq. ft.

Granting Clause The granting clause, also known as words of conveyance, is needed to state the grantor's intention to convey the property. Words like "sell, give, bargain, convey, and grant" are used to make it very clear that the deed is transferring the property from the grantor to the grantee.

The granting clause needs to indicate what interest in the property is being conveyed by the grantor. Deeds that convey the entire fee simple interest of the grantor usually contain such wording as "to Jacqueline Smith and to her heirs and assigns forever." If less than the complete interest is being conveyed (such as a life estate to property) the wording must be changed to show this limitation. For example, a deed creating a life estate would convey property "to Jacqueline Smith for the duration of her natural life."

Special Warranty Deed The next type of deed is the special warranty deed, also known as the bargain and sale deed with covenants. This type of deed only protects against defects that occurred while the grantor held title.

The grantor warrants only that the property was not encumbered during the time they held title, except as noted in the deed, and that they have done nothing during ownership to cloud or damage the title.

The two parties involved in any deed are the grantor and the grantee.

The person who transfers title to real property in a real estate transaction is the grantor. The person who receives a conveyance of real property in a transaction is the grantee. ** So, if Alan owns a farm and sells it to Garrett, Alan is the grantor and Garrett is the grantee.

Determining Property Boundaries: 3 types

There are a few different methods of surveying that yield valid legal descriptions: 1) Metes and bounds 2) Rectangular survey system 3) Block and lot These methods may use existing legal descriptions or surveys as a reference. A single property may be described using one or multiple methods. All of these are accurate methods of identifying a piece of land, with metes and bounds being the most common.

DOUBLE CHECK LEGAL DESCRIPTIONS

This case points out the necessity of checking and double checking the legal description of the property. A listing agent can compare the seller's original deed or title policy to see exactly what the seller bought and the tax rolls to determine what the seller is paying taxes on. If there are discrepancies or if the seller has made significant changes like selling a portion of the property, a new survey is needed. A buyer's agent can compare the contract with the tax rolls for legal descriptions and owners' names. If there is any question about the legal description, the buyer's agent should encourage the buyer to ask for a new survey. Both agents need to check the names and legal descriptions in the title commitment.

Probate is a legal process by which a court determines the validity of a will and establishes the assets of a decedent and who will inherit those assets. Probate is not always necessary, especially in straightforward cases or when an estate is small.

To initiate probate proceedings, the custodian of the will, an heir, or another interested party must petition the court. The court then holds a hearing to determine the validity of the will and/or the order of descent, should no valid will exist. If the will is upheld, the property is distributed according to the will's provisions; and if the decedent owned real estate in another county, a certified copy of the probate would be recorded in that county also. If the court declares that the will is invalid or too much time has passed since the date of death, any property owned by the decedent passes by the laws of descent.

If there is a gap in the chain of title, the chain is said to be broken. A broken chain of title results in a cloud on the title.

To remove this cloud, an owner may need to initiate a suit to quiet title. This would serve as a kind of lawsuit against anyone who has a claim on the land. If the property owner wins the suit to quiet title, no further challenges to the title can be brought. In short, a suit to quiet title clears the title record of any unrecorded claims.

A marketable title is one that is: - Free from serious defect - Free from legal exposure - Reasonably thought to be marketable should the buyer become a seller at some point in the future

To sum it up, a marketable title is a title that is free from significant encumbrances or defects (such as liens) that might otherwise prevent a purchaser from enjoying or eventually selling the property.

Torrens Certificate The Torrens system is a recording system used in some states in which the state holds all records of land and title ownership, evidenced by a certificate of title. Basically, with the Torrens system, the deed is registered directly on the certificate of title itself. It is only after the deed is registered on the certificate of title that the title passes to the new owner. After that, a Torrens certificate is issued to the new owner. In states that use it, a Torrens certificate offers the absolute BEST form of title evidence. Because in a Torrens system, the state maintains the register of land, a Torrens certificate is basically the supreme, unassailable evidence of ownership. Michigan does not use the Torrens system.

Torrens Prevents Adverse Possession Real property registered in the Torrens system cannot be lost to adverse possession. That's how powerful a Torrens certificate is!

Rectangular Survey System: Tiers

Township Lines run west and east, parallel to the baseline and six miles apart from each other. The sections of land that township lines create are called tiers.

What Does a Title Policy Cover? Both owner's and lender's policies provide coverage if: * Someone else owns an interest in the land * There's no right of access to and from the land * There are liens on the title for labor and material from before the policy effective date that wasn't agreed upon

What DOESN'T a Title Policy Cover? Title insurance doesn't insure against fire, flood, theft, or any other type of property damage or loss. But a homeowners insurance policy covers these types of losses. So it's probably best if you put the flamethrower away, Casey, because a title policy won't help you there.

Transfer of a Deceased Person's Property

When a person dies without having left a valid will, we say they have died intestate. The person who has died (also called the decedent) may leave behind real estate and personal property. This passes to their heirs according to the intestate succession laws. In effect, the state makes a will for the decedent. In contrast, a person who dies testate has prepared a will indicating how property will be conveyed after their death

Deed of Trust vs. Mortgage Recap: With a deed of trust, a lender owns a property until all debts are paid off.

While a deed of trust and a mortgage are functionally pretty much the same, the primary difference between them is that if the borrower defaults, the lender must conduct foreclosure proceedings through the courts (judicial foreclosure), but a deed of trust allows lenders to bypass the courts and foreclose on the property using a non-judicial foreclosure. In Michigan, both deeds of trust and mortgages are allowed, but deeds of trust are much more common.

A general warranty deed, sometimes called a full covenant and warranty deed is a deed containing the strongest and broadest form of guarantee of title. (Most protection to buyer)

With this sort of deed, certain covenants or warranties legally bind the grantor. A warranty is like a legal promise that the grantee will get to own and enjoy their property to the fullest. Warranties can be directly stated in the deed or implied by the use of certain language, such as "convey and warrant," "warrant generally," and "grant, bargain, and sell." Covenants = protection for grantees, but that doesn't mean buyers can skip the title search and title insurance. Their attorney should still order a title search and make sure title insurance is secured.

Datum (Just think of a datum like a very large ruler (a ruler for giants, perhaps) that extends upward and downward.)

a base point from which elevation is measured. From a datum, a measurement moves upward or downward on a horizontal plane, creating standard heights of depths. A datum base point is established by sea level.

Block and Lot

a type of legal description that identifies a piece of platted property by referring to the lot and block numbers in the subdivision