TITLE INSURANCE: Title - the legal ownership of property - can be more complicated than you may think. Title insurance protects both the buyer and lender if the title of a property is disputed or split between parties.
TITLE SEARCH: The process of searching through public records to ensure that the seller of a property has full legal ownership to do so. If deficiencies or defects are found, it will greatly complicate the transaction.
TAX LIEN: A lien placed against a property for nonpayment of taxes.