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LSDefine

Simple English definitions for legal terms

defective title

Read a random definition: interesse termini

A quick definition of defective title:

A defective title means that someone claims ownership of a property or assets that cannot be legally transferred to another person. When someone sells property, they must provide a clear title to the buyer. However, the buyer is also responsible for checking the title for any problems and telling the seller about them. The seller must try to fix any issues, but they don't have to do anything too difficult. The buyer and seller can agree to cancel the sale if the seller can't fix the title problems.

A more thorough explanation:

A defective title refers to ownership of property or assets that cannot be legally transferred due to claims by someone else. This means that the seller does not have the legal right to sell the property or assets because someone else has a claim to it.

For example, if a person tries to sell a house but there is a lien on the property, the title is considered defective because the seller does not have clear ownership of the property. The buyer cannot legally purchase the property until the lien is resolved.

When buying property, it is important to examine the title for any defects and notify the seller of any issues. The seller is responsible for making good faith efforts to cure any defects in the title, but they are not required to put in extraordinary efforts. The buyer must also investigate the title and give written notice of any alleged defects so that the seller can cure the defect within a reasonable time.

If the seller cannot transfer marketable title and is unable to cure title defects, the agreement to sell the property may be void. However, an escape clause may not be available if the seller cannot prove that they made reasonable efforts to cure the defects.

Overall, a defective title can cause legal issues and prevent the transfer of ownership of property or assets.

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Dkk
19:42
SEO is big money
2016 pushed the conservative party into populism irreversibly
Dkk
19:43
Maybe, but if this is populism, then every election is populist.
19:43
@Dkk: yeah register 1 website and every swinging tom dick and harry calls/emails/texts to 'help with seo'. like bruh, if YOU found it, what i am doing is working
Dkk
19:43
Indeed!
19:48
wasp, i think people are hopeful for a gov who at least attempts to care about the common man
MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
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