Title Detailed documentation evidencing ownership or other right to a property. In real estate, the deed. An examination of the public title records to ensure that the seller is the owner of the property and that there are no liens or other claims outstanding. A form of ownership in real property similar to a condominium or cooperative. Generally, a series of residential units which share common walls with the adjacent units, but stand on individual lots.
Owners have title to the unit and lot that they occupy.
The common areas and the building exteriors are owned jointly. A series of indexes which are used the basis for determining interest rate changes for many Adjustable Rate Mortgages. A form of Adjustable Rate Mortgage with a one-time rate adjustment at the end of either five of seven years. The rate then remains constant for the remaining term. The process of verifying the documentation and analyzing the risk associated with granting a mortgage.