In real estate and civil law, a tort is a wrongful act or omission that causes harm to another person and is not based on a breach of contract. It gives rise to a civil action in which the injured party may seek damages or other remedies from the party responsible....

In real estate law, title theory is a legal concept followed in certain states under which the mortgagee holds legal title to the property during the term of the mortgage. The mortgagor retains equitable title and the right to possession and use of the property. Under...

In real estate practice, a title search is the examination of public records relating to a specific parcel of property to determine the current condition of title. It involves reviewing recorded documents such as deeds, mortgages, liens, and easements. The purpose of...

In real estate transactions, a title report is a document prepared by a title company that discloses the condition of title to a specific property. It is issued prior to the issuance of a title insurance policy. The title report identifies the current owner of record...

In real estate and title practice, a title plant is a privately maintained collection of recorded information relating to real property. It parallels the records kept in the county recorder’s office and organizes them for efficient searching and examination. Title...

In real estate transactions, title insurance is insurance that protects against loss resulting from defects in the title to a specifically described parcel of real property. It provides coverage for issues such as undisclosed liens, errors in public records, or other...

In real estate law, title refers to the evidence of a person’s right to possess and use land. It represents the legal basis for ownership and control of real property. Title encompasses the rights of ownership, often described as the bundle of rights. These rights...

In real estate, a timeshare is the purchase of an undivided interest in property, typically a condominium located in a resort area, for use during a fixed or variable period each year. The ownership interest allows the purchaser to occupy the property for the...

In real estate and contract law, time is of the essence is a provision that makes timely performance a critical requirement of the agreement. It means that the specified dates and deadlines are essential terms of the contract. When a contract states that time is of...

In real estate and contract law, a third party is a person who is not one of the primary parties to a contract but whose interests may be affected by it. Although the contract may relate to property or rights in which the third party has an interest, the third party...