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Glossary - 360training.com
Texas Principles of real estate I Page 1 of 46 Glossary Abstract of Title: A brief history of the title to a particular parcel of real estate . It is a summary of the public records that exist regarding that parcel and presents a compressed listing of the various events and changes that have affected the title to that parcel over time. It chronicles any transfers in ownership as well as any divisions of ownership interest. It also records liens and other encumbrances that may be associated with the property. Most abstracts are accompanied by a certificate that identifies the period of time covered by the abstract, but there are no standard forms or methods for presenting or creating an abstract. Acceleration Clause: (also called an alienation clause ) A clause in the mortgage document that, if enforced, makes the entire balance of the mortgage due to the lender immediately upon default.
Texas Principles of Real Estate I Page 1 of 46 Glossary Abstract of Title: A brief history of the title to a particular parcel of real estate. It is a summary of the public records that …
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