Title:  The legal document conferring ownership of a piece of real estate.

Title Company:  A firm that ensures that the property title is clear and provides title insurance.

Title Examination:  An examination of the public record to determine that the seller is the legal owner and there are no encumbrances (such as claims or liens) affecting the property.

Title Insurance:  A policy issued to lenders and buyers to protect against loss due to disputed property ownership.

Title Insurance Binder:  A title insurance company's written commitment to insure title to the property, subject to the conditions and exclusions shown on the binder.

Title Risk:  Possible impediments to the transfer of a title from one owner to another.

Title Search:  The process of reviewing all recorded transactions in the public record to determine whether any title defects exist that could interfere with the clear transfer of ownership of the property.

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