What is the Covenant of Seisin Clause? The covenant of seisin (also seizin) is a promise that the grantor owns the property and has the right to convey title. The covenant of seisin states that the property is free from liens or other encumbrances except as noted in the deed. This clause gives the grantee notice of all encumbrances (liens, restrictions, and so forth) associated with the property. These covenants cannot, and do not, guarantee a marketable title. The clauses are only as good as the grantor. If the grantor is insolvent or unreliable, the covenants are of little or no value. Want [...]
What is Title Insurance? Title insurance is a contract that protects the policyholder from losses arising from defects in the title. Florida law does not require title insurance. It is a unique type of insurance. It protects against loss from past occurrence, such as a forged deed somewhere in the chain of title. Other insurable title defects include flaws due to incorrect marital status and incapacity of a grantor due to mental incompetence. The title insurance company will defend a lawsuit based on an insurable defect, and it will pay claims up to the face amount of the policy if the [...]
Rowlett Real Estate School held its 63-Hour Sales Associate License Live Classroom Course in Destin, Florida from June 17-23, 2019. In short, this course is an REcampus, FREC-approved, 7-day, 63-hour pre-license course required by the state to obtain a Florida real estate license.
What is Abstract of Title? An abstract of title is a summary report of what the title search found in the public record. The person who prepares this report is called an abstractor. The abstractor searches the public records and then prepares a condensed history of the various events and proceedings that affected the title throughout the last 30 years. All recorded liens and encumbrances are included, along with their current status. However, the abstract of title does not reveal such items as encroachments or forgeries, or any interests or conveyances that have not been recorded. Want to Learn More? Ready to take [...]
What is a Chain of Title? A chain of title is the complete successive record of a property's ownership. To clarify, beginning with the earliest owner, title may pass to many individuals. Therefore, each owner is "linked" to the next and a "chain" is formed. In short, a chain of title is traced through linking conveyances from the present owner back to the earliest recorded owner. Want to Learn More? Ready to take the next step towards a real estate career? Choose Rowlett Real Estate School today and make your real estate career dreams a reality! Check out our Exclusive Fully-Narrated Online Video Course. [...]