Definition
Title Commitment
The title insurer’s document stating the terms on which it will issue a policy, including exceptions and requirements.
Nearby terms
Tax Lien
A claim by a taxing authority for unpaid taxes, which generally takes priority over a mortgage.
Title
The legal right of ownership in real property, as distinct from the deed, which is the document transferring it.
Title Insurance
Insurance against defects in the ownership history of a property, paid once and covering past rather than future events.
Title Search
An examination of public records to establish the chain of ownership and identify liens, easements and other encumbrances.
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