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QUIET TITLE ACTION - The name of an action brought to establish a
title to property or to remove a cloud on the title.
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QUITCLAIM DEED - A form of deed containing no warranties and
conveying the current right, title and interest of the grantor, if any, to
real property.
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REAL PROPERTY - Immovable property such as land, buildings,
improvements, appurtenances, and air space.
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RECISSION - The act of canceling or annulling the effect of a
document.
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RECONVEYANCE - A document extinguishing the lien of a deed of trust
and reconveying the title to the real property encumbered by the deed of
trust to the trustor.
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RECORD - To incorporate into the public records of the County
Recorder; also the system of public records imparting constructive notice
of title to claims, or interests, in real property in accordance with
State laws.
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RECORDING - The act of buying back property previously sold in
judicial proceedings.
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REDEMPTION - The act of buying back property previously sold in
judicial proceedings.
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REDEMPTION RIGHT - The right of a debtor to reacquire title to
property formerly owned by him or her but sold through judicial process to
satisfy his/her debts.
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REFORMATION ACTION - Proceedings instituted for the purpose of
correcting mistakes in documents.
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REINSTATEMENT - Restoring to the status occupied before a
forfeiture.
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RELEASE - A document extinguishing the lien of a mortgage,
judgment, mechanic’s lien, etc.; also, a document absolving another of
liability.
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RELEASE CLAUSE - Provision in a mortgage or deed of trust for the
release of the lien from portions of the property.
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REQUEST FOR NOTICE - Recorded request by anyone desiring written
notice of the recording of a notice of default under a deed of trust or of
the scheduling of a trustee’s sale thereunder; also, recorded trust
request of anyone desiring notice of the scheduling of an execution sale
foreclosing the lien of a judgment; also, a request filed in probate
proceedings by anyone desiring special notice of proceedings taken
therein.
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REQUEST FOR RECONVEYANCE - Written instruction of a beneficiary
under a deed of trust addressed to the trustee, acknowledging satisfaction
of the secured obligation, and directing the trustee to extinguish the
lien of the deed of trust and reconvey the property encumbered by the deed
of trust.
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RESERVATION - A right or an interest retained by a grantor in a
conveyance.
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RESTRICTIONS - Impediments, limitations, or prohibitions respecting
use of real property imposed in deeds or in a declaration.
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REVENUE STAMPS - Stamps affixed to documents evidencing payment of
federal tax formerly imposed.
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RIDER - A supplement to; an addition to; an endorsement to a
document.
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RIGHT OF SURVIVORSHIP - The right to succeed to the interest of a
decedent, by operation of law.
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RIGHT OF WAY - A right to pass over or to cross a parcel of land.
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SALE AND LEASEBACK - A transaction in which a grantee in a deed
leases the same property back to the grantor without a change in its
possession.
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SALES CONTRACT - An agreement entered into for the sale and
purchase of property.
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SATISFACTION - The performance of the terms of an obligation.
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SEARCHER - A title company employee who assembles the information
required to complete a chain of title to real property.
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SECURITY DEPOSIT - Deposit of money made to assure performance of
an obligation.
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SLANDER OF TITLE - False unjustified statements regarding another
person’s title to property.
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SPECIAL ASSESSMENTS - Charges imposed upon real property especially
benefited by a local public improvement.
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STATEMENT OF INFORMATION - A statement of facts relied on by title
companies to assist in the proper identification of persons.
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STATUTE OF LIMITATIONS - A series of statutes designed to render
unenforceable stale claims and rights.
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STRAIGHT NOTE - A promissory note calling for payment of principal
in one sum rather than in installments.
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SUBDIVISION - The division of a tract of land into separate
parcels.
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SUBJECT TO - The recognition of an existing lien or encumbrance but
not assuming personal liability therefor.
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SUBORDINATE - To make inferior in priority.
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SUBORDINATION AGREEMENT - An agreement changing the priority of
interests.
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SUBROGATE - To substitute one person in place of another with
reference to an obligation.
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SUBSTITUTION - The appointment of a person to act in the place and
stead of another.
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SUMMONS - A court’s direction to the sheriff to inform a
defendant that an action has been filed against him/her.
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SURVEY - A process of measuring a parcel of land and ascertaining
its area and boundaries.
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TAX DEED - A deed issued to a purchaser following a sale
necessitated by the non-payment of real property.
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TAX SALE - Sale conducted for the purpose of collecting delinquent
taxes assessed to a parcel of real property.
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TAX SEARCH - An examination of the public records of taxing
authorities to determine the tax status of a parcel of real property.
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TENANCY IN COMMON - A form of co-ownership of property by two or
more persons in undivided interests.
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TENTATIVE MAP - A proposed subdivision map required to be submitted
to and approved by the local government agency before approval of a final
subdivision map.
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TERMITE REPORT - A report of an inspection for damage caused by
pest infestation by a person licensed by the state.
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TESTAMENTARY TRUST - A trust created by the last will and testament
of a decedent.
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TITLE - The sum total of a person’s right or the extent of
his/her interest in real property.
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TITLE INSURANCE - Assurance of indemnification for loss occasioned
by defects in the title to real property or to an interest therein which
is insured.
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TITLE PLANT - The public records real property assembled and
maintained by title companies for the purpose of issuing title insurance.
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TITLE POLICY - A contract of indemnity for loss resulting from a
defect in the title to the interest or lien in real property insured.
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TITLE SEARCH - The assembled information required to complete a
chain of title to a parcel of real property.
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TRACT - A parcel of land divided into smaller parcels called lots.
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TRANSFER TAX - A tax imposed upon transfers of title to real
property.
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TRUST - A fiduciary relationship in which a trustee holds title to
property for the benefit of a beneficiary.
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TRUST DEED - Same as a deed of trust; a three party security
instrument conveying title to land as security for the performance of an
obligation.
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TRUSTEE - The fiduciary holding title to property for the benefit
of another.
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TRUSTEE’S DEED - The deed given by the trustee under a deed of
trust when the secured property is sold under power of sale.
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TRUSTEE’S SALE - Foreclosure sale conducted by the trustee in the
exercise of power of sale.
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TRUSTOR - The person conveying property in trust.
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