To mortgage or pledge without delivery of the security to the lender. To give something as security without parting with possession.

Funds retained by a lender to cover such items as taxes and hazard insurance premiums. Also known as Escrow Account.

Insurance against possible loss or damage. A title insurance policy is a contract of indemnity.

A promissory note providing for payment of the principal in two or more fixed amounts at different stated times.

On condominium or townhome properties, an insurance certificate is the evidence that the unit owner and lender, if any, are insured under the terms of a Master Insurance Policy.

Title held by two or more persons in equal shares with right of survivorship.

A business undertaking by two or more persons to conduct a single enterprise for profit.

CA statutory lien created by recording an abstract of judgment.

A subordinate lien.

The sworn statement form of the notary public certificate. The clause at the end of an affidavit with the date, location and person before whom the statement was sworn.

The sworn statement form of the notary public certificate. The clause at the end of an affidavit with the date, location and person before whom the statement was sworn.

A contract for the possession of land in consideration of payment of rent.

Having possession of a property by virtue of a Lecom.

The tenant under a lecom.

The landlord under a lecom.

A charge, claim, or liability upon property for the payment of a debt or performance of an obligation. Examples include taxes, special assessments, judgments, mortgages, and mechanic’s liens.

An estate measured by the life of a natural person.

A partnership composed of partners whose contribution and liability are limited.

An agreed-to sum of money to be paid under a contract in the event of a breach where it would be difficult to prove the amount of actual damages.

A legal notice recorded against property to show that litigation is pending, typically used to control or stop the transfer of the property when a conflict arises between parties in a transaction.

A statutory lien in favor of laborers and suppliers who have contributed to a work of improvement.

A written document executed by the owner of land by which the land is given as security for the payment of a debt or performance of an obligation.

The party who obtains the benefit of a mortgage.

The party who executes a mortgage.

A water company organized by or for the benefit of water users in a given district with the object of securing an ample water supply at a reasonable rate. Shares of stock are issued to the users.

A party designated to act in place of the original buyer in a real estate transaction.

A written acknowledgment of a debt by a borrower including a promise of payment in accordance with specified terms. Also known as Promissory Note.

Recorded notice that a default has occurred under a deed of trust.

A notice recorded by the Trustee of a Deed of Trust stating that a foreclosure action has begun and giving the date of the proposed foreclosure sale.

Statement obtained to verify or substantiate terms of an agreement or sums of money. As an example: A Tenant Offset or Estoppel is a statement signed by the Tenant giving monthly rental sum, security deposits, last month rent paid, and describing any special agreements with the Lessor (Landlord).

A voluntary association of two or more persons to carry on as co-owners of a business for profit.

Movable property such as furniture, clothing, or a car. Property which is not real property.

A drawing giving the general physical lay-out of the land covered and included in the preliminary title report.

Private Mortgage Insurance. It is obtained by a lender at the borrower’s expense as insurance covering the payment of the loan.

A document authorizing another to act on one’s behalf as his agent.

The initial report issued by a title insurer reflecting results of the search of title. This report sets out the terms upon which a title insurer is willing to insure the title, provides a description of the property, the vesting of the title, and any liens and encumbrances against which the company is not willing to insure.

A provision in a note providing for the payment of a penalty in the event the note is paid off prior to its due date.

One who employs an agent to act on his behalf, such as the seller and buyer in an escrow transaction. Also, an amount of debt or the face value of a note or mortgage.

The official proving of a will as authentic or valid in a probate court.

A informational package furnished by title companies to real estate agents which usually provides copies of the current vesting deed, the tax parcel number, copies of trust deeds, and a plat map.

To divide equally or proportionately as to the time of use. In a sales escrow, it is the custom to prorate taxes, interest, rents, and hazard insurance premiums between buyer and seller in accordance with the respective periods of ownership.

A report issued by the Department of Real Estate containing information of interest to a buyer about newly subdivided property.

A deed of trust to secure payment of all or a portion of the purchcom price of real property.

A person or entity serving as an intermediary in an exchange transaction.

A legal action to establish title to real property usually used to obtain clear title on a property that is clouded by an issue of title.

A deed which conveys whatever present right, title or interest the grantor may have in real property but not containing any warranty of a valid interest on title in the grantor.

Land and buildings affixed to the land, including the air space above and mineral rights below, as opposed to personal property or chattels.

A document releasing the lien of a deed of trust.

Filing a document for record in the office of the county recorder, thereby making the document part of the public record.

A detailed statement provided by the seller covering the rental income of a property and amounts of deposits. The statement is used in escrow for rent proration purposes and for making adjustments between the parties for deposits.

A notice recorded by the holder of a junior lien requesting that he be notified in the event that a Notice of Default is recorded under a senior deed of trust. If the deed of trust is foreclosed, the person requesting the notice will be notified of the foreclosure by the trustee processing the foreclosure.

The Real Estate Settlement Procedures Act enacted by Congress in 1974, provides protective measures for borrowers, including establishing the manner in which closing costs are disclosed. Lenders are required to use the R.E.S.P.A. settlement statement at closing. In common usage, this form is called a ‘H.U.D.” statement.

A right to cross over a parcel of land.

Evidence of the payment in full of a judgment lien.

A deposit made to assure performance of an obligation, usually by a lessee.

A brief statement of facts relied upon by title insurers to assist in the proper identification of persons.

An approved agent to receive and disburse funds on behalf of the escrow holder or a lender, usually the title company named in the escrow.

The procedure of allowing a new loan or obligation to take priority over an existing encumbrance.

An agreement under which a prior lien is given a lower priority to an otherwise junior lien.

A map or plat containing a statement of courses, distances and quantity of land and showing boundary lines of real property. Also, a process of measuring a parcel of land and ascertaining its area and boundaries.

A short-term loan obtained on a Seller’s equity for the purpose of purchasing a second property.

A service which provides notification to a lender of whether or not a borrower is paying the real property taxes. Companies who perform this service audit the tax rolls and issue notices to lenders when taxes are delinquent.

Ownership of property by two or more persons in an undivided interest without right of survivorship.

The evidence of ownership.

An insured statement of the condition of title or ownership of real property. For a one-time-only premium, the named insured and their heirs are protected against title defects, liens, and encumbrances existing as of the date of the policy and not specifically excluded from coverage. In the event of a claim, the title company provides legal defense for the policyholder and pays any covered losses incurred as a result of such claim.

A fiduciary relationship in which one party (trustee) holds the title to property for the benefit of another party ( beneficiary).

A fiduciary relationship in which a trustee holds title to property for the benefit of a beneficiary.

A three-party security instrument conveying title to land as security for the performance of an obligation. The three parties are the Trustor (borrower), Trustee (acts only at time of payoff and in ccom of foreclosure), and Beneficiary ( lender).

The acting principal named in a Trust Agreement or the third party named in a trust deed.

In a ccom of a foreclosure, the deed given by the trustee under a deed of trust when the property is sold under the power of sale.

The person who conveys property in trust or the borrower under a deed of trust.

Property located outside the limits of any city.

A legal action to recover possession of real property.

Charging more interest than the law allows on a loan.

To give title to or to pass ownership to property.

A commonly used expression for a document that is recorded against a property but seems to have no basis for application or connection with the property.

A disposition of property effective upon the maker’s death often referred to as a “last will and testament”.

Governmental regulations relating to the use of real property.