What is an abstract of title?
A short history of a piece of land that lists any transfers in ownership, as well as any liabilities attached to it, such as mortgages.
What are CC&Rs?
The restrictions governing the use of real estate, usually enforced by a homeowners' association and passed on to the new owners of property. For example, CC&Rs (covenants, conditions and restrictions) may tell you how big your house can be, how you must landscape your yard or whether you can have pets. If property is subject to CC&Rs, buyers must be notified of their existence before the sale is completed.
What is a cloud on title?
Any conditions revealed by a title search which affect the title to property; usually relatively unimportant items but which cannot be removed without a quitclaim deed or court action.
What is a deed?
Formal written document transferring title to real estate; a new deed is used for each transfer. The deed should contain an accurate description of the property being conveyed, should be signed and witnessed according to the laws of the State where the property is located, and should be delivered to the purchaser at closing. In California, the deed is recorded at close of escrow. The Recorder's Office then forwards the original deed to the buyer.
What is a deed of trust?
An instrument given by the borrower to a third party (trustee) vesting title to the property in the trustee as security for the borrower's repayment of the mortgage loan.
What is an easement ?
Created by grant or agreement for a specific purpose, an easement is the right privilege or interest which one party has in the land of another. (Example: right of way.) Easements may also be created by usage over a period of years.
