Real Estate Terminology

What is a Deed? A deed is a written instrument that conveys title to real property. It is an instrument of conveyance whereby title to real property is transferred from one party to another. The two parties to a deed are the grantor (owner giving title) and the grantee (new [...]

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 [...]

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 [...]

What is a Transaction Broker? A transaction broker is a broker who provides limited representation to a buyer, a seller, or both, in a real estate transaction, but does not represent either in a fiduciary capacity or as a single agent. In a transaction broker relationship, a buyer or seller [...]

What is a Quitclaim Deed? The quitclaim deed is a deed by which the grantor quitclaims unto the grantee all of the grantor's rights, title, and interest to the property, if any. The grantor makes no warranties about the quality or extent of the title being conveyed. This form of deed is [...]