Business, Legal & Accounting Glossary
n. an apparent title to real property which fails because a claimed prior holder of the title did not have title, or there is a faulty description of the property or some other “cloud” over it, which may or may not be apparent from reading the deed.
An owner’s Title to land or goods can be ‘defective’ (that is, less than perfect) in at least four ways.
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This glossary post was last updated: 27th April, 2020 | 0 Views.