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Simple English definitions for legal terms

title jurisdiction

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A quick definition of title jurisdiction:

Title jurisdiction refers to the concept in property law that when a person takes out a mortgage on a property, legal ownership of the property is transferred to the lender until the mortgage is paid off or foreclosed. This is only practiced in a few American states, known as title states or title-theory jurisdictions. In contrast, most states follow the lien theory, where the borrower retains legal ownership of the property and the lender has a lien on it until the mortgage is satisfied.

A more thorough explanation:

Definition: Title jurisdiction refers to the legal concept in property law that a mortgage transfers the legal title of the property to the mortgagee. The mortgagee retains the title until the mortgage has been satisfied or foreclosed. This concept is also known as title theory and is only adopted by a few American states.

Example: In a title jurisdiction state, if a person takes out a mortgage to buy a house, the legal title of the property is transferred to the mortgage lender until the mortgage is paid off. This means that the lender has the right to foreclose on the property if the borrower fails to make payments.

Explanation: This example illustrates how title jurisdiction works in practice. The mortgage lender holds the legal title of the property until the mortgage is satisfied, which gives them the right to foreclose on the property if the borrower defaults on the loan. This concept is different from lien theory, where the borrower retains legal title of the property and the lender only has a lien on the property as security for the loan.

title-guaranty company | title member

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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.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
WorthlessAttractiveZombie
7:44
My berkeley paragraph finally disappeared. I definitely think it is just an indicator that they are actively reviewing files, and does not mean anything about A, WL, or Rs
WorthlessAttractiveZombie
7:46
Also has anyone's date disappeared for W&L? Mine did last night
7:55
@WorthlessAttractiveZombie: mine did yesterday morning
7:56
Oops sorry I meant Vilanova. Mine disappeared last week
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