Certificate Of Title

When you buy real estate, you’ll need proof that you are the legal owner of the property.

The state or city will issue you a document that offers documented evidence of this ownership. It’s called the Certificate of Title.

This document is critical to the public records, as it offers both legal and public notice, and protects the property owners against any claims made by a third party. Whenever you purchase a property, the seller must ensure you that no one else can make a claim for this real estate.

Find other enlightening terms in Shmoop Finance Genius Bar(f)