Agreement to Supply Evidence of Merchantable Title

A title is considered to be marketable if it does not include any flaws in the line of ownership, any encumbrances on the property that are not disclosed in the deed, or any zoning issues.

Proof of title is the method by which the ownership of property is adequately established within the confines of a particular jurisdiction. This can be accomplished through the presentation of various documents. There are four different types of proof that can be used to verify a property’s title: an abstract and opinion, a certification of title, property insurance, and a Torrens certification.

The vendor is the one responsible. The provision of a clear and marketable title to the property is typically stated to be the seller’s duty in the majority of contracts.

A person’s right to achieve complete ownership of a property or a property asset is referred to as their “equitable title” in the context of the law governing real estate transactions. The phrase “legal title” can be contrasted or used in conjunction with this, depending on the context. Legal title, which refers to the real title to the land, was introduced earlier in this discussion. In particular, a person who is legally entitled to land has the ability to sell or otherwise transfer ownership of the land to another individual or entity. This indicates that they are authorized to engage in the process of selling the property. Alternately, equitable title refers to a person’s financial interest in the property and is often connected with this type of title. As a result of this, it is possible for one person to hold equitable title to a piece of real estate in which they have made an investment while another person actually holds legal title to the same piece of real estate.