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Simple English definitions for legal terms
perfect title
Read a random definition: bond for deed
A quick definition of perfect title:
A title is a legal document that shows who owns a piece of property. It proves that someone has the right to control and sell the property. There are different types of titles, like clear titles that have no problems, and defective titles that have issues. A perfect title is a type of title that is good and valid without any doubts. It's important to have a perfect title when buying or selling property.A more thorough explanation:
A perfect title refers to the legal right to control and dispose of property. It is the union of all elements that constitute the ownership, possession, and custody of a property. A person who owns a property has a legal link with the property itself, which is known as the title.
For example, if John owns a house, he has a perfect title to the property. This means that he has the legal right to control and dispose of the property as he wishes.
A perfect title is also known as a good title, clear title, or merchantable title. It is a title that is legally valid and effective, free from any encumbrances, burdens, or other limitations. A perfect title does not disclose any patent defect that may require a lawsuit to defend it.
For instance, if a buyer purchases a property with a perfect title, they can hold the property in peace during the period of ownership. They can also sell the property to another buyer who employs the same standards of acceptability.
In summary, a perfect title is a legal right that gives the owner complete control and disposal of a property without any legal limitations or encumbrances.