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Title insurance
A type of insurance policy that protects a policyholder from any losses because of a dispute over the ownership of a piece of property.
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Third-party origination
A process by which a lender uses another party to completely or partially originate, process, underwrite, close, fund, or package a mortgage.
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Title search
An examination of public title records to ensure that a seller is the legal owner and that there are no claims or liens against the property.
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Transfer of ownership
Any means by which the ownership of a real estate property changes hands.
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Transfer tax
Tax paid when ownership of a property passes from one person to another.
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Trust account
A separate bank account used by brokers and escrow agents to safeguard funds for a buyer or a seller.
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