Merced County California

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Glossary of Real Estate Terms
Deed: Written instrument which, when properly executed and delivered, conveys title to real property from one person (grantor) to another (grantee).

Grant Deed: A limited warranty deed using the word "grant" or like words that assures a grantee that the grantor has not already conveyed the land to another and the estate is free from encumbrances placed by the grantor.

Quitclaim Deed: A deed to relinquish any interest in property that the grantor may have without any warranty of title or interest.

Deed of Trust (Trust Deed): A legal document by which a borrower pledges certain real property or collateral as a guarantee for the repayment of a loan.

Encumbrance: A lien affecting the land and improvements, such as a Deed of Trust.

Default: Failure to perform a duty or to pay an obligation.

Foreclosure: Procedure whereby property pledged as security for a debt is sold to pay the debt in event of default in payment or terms.

Reconveyance: This instrument of transfer is commonly used to transfer the legal title from the trustee to the trustor (borrower) after a Deed of Trust debt has been paid in full.

Merced County 2222 M Street Merced, CA 9543 Ph. (209) 385-7434 Toll Free (800) 226-6452
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