Some real estate terms and their meaning.
Chain of title- This is a history of the ownership of a property from the first person that ever owned the property to the present day owner.
Clear title- A title or deed to a property that has no judgments or leins or any other encumbrances against it.
Abatement- To decrease or abate the amount of taxes, debt or other payments owed by person.
Joint tenancy- This is when 2 or more people own a piece of property and most states insist that the deed for the property states that it is a joint tenancy.
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