{"id":16227,"date":"2018-05-22T16:11:23","date_gmt":"2018-05-22T16:11:23","guid":{"rendered":"https:\/\/reunitethestates.org\/?page_id=16227"},"modified":"2018-06-15T21:38:56","modified_gmt":"2018-06-15T21:38:56","slug":"good-title","status":"publish","type":"page","link":"https:\/\/reunitethestates.org\/?page_id=16227","title":{"rendered":"good (clear, marketable) title – legal\u00a0and equitable title\u00a0free from litigation, palpable defects, and grave doubts, not dependent upon any question of fact,\u00a0and fairly deductible of record, with no\u00a0outstanding interest, lien, encumbrance, or claim that could defeat or impair the interest; a person of reasonable prudence and intelligence, guided by competent legal advice, would \u00a0be willing to pay fair market value"},"content":{"rendered":"

\u00a0 \u00a0 \u00a0This page is continued from Property<\/a> >>>> Ownership<\/a>\u00a0>>>>\u00a0Title<\/a>:<\/span><\/strong><\/p>\n

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clear title:<\/span>
\n<\/span><\/strong><\/span>(17c)<\/span><\/p>\n

1. A title free from any encumbrances<\/a>, burden<\/span>s, or other limitations. \u00a0<\/strong><\/span><\/p>\n

2.<\/strong> See marketable title<\/em><\/strong><\/span>. \u2014 aka\u00a0good title<\/span><\/strong><\/em>.\u00a0[1]<\/span><\/p>\n

1. Good title<\/span>; a legal<\/a>\u00a0and equitable title<\/a><\/span> to la<\/span>nd free from litigation, grave doubts, and palpable defects.<\/span> Veselka v Forres<\/em> (Tex Civ App) 283 SW 303, 306<\/span>; a title free from material defects; a merchantable or marketable title.<\/span> 30 Am J2d Exch\u00a0\u00a7 23<\/span><\/strong>.<\/strong> [2]<\/span><\/span><\/p>\n

1. Good title; marketable title; title to land or other property that is free from doubts or defects.<\/span><\/strong>
\n\u00a0 \u00a0 \u00a0See good and valid<\/em>. [3]<\/span><\/p>\n

good title:<\/span>
\n<\/span><\/strong>(16c)<\/span><\/p>\n

1. A title that is legally valid or effective. \u00a0<\/strong><\/span><\/p>\n

2.<\/strong> See clear title<\/a><\/strong>\u00a0(1)<\/em>. <\/span><\/p>\n

3.<\/strong> See marketable title<\/a><\/strong><\/span>. [1]<\/span><\/p>\n

1. A valid title and a marketable title<\/a><\/span>. 55 Am J1st V & P\u00a0\u00a7 166<\/span>.<\/span><\/strong><\/p>\n

Not merely a title which is valid in fact, but a marketable title<\/a><\/span><\/span>\u00a0which\u00a0can again be sold to a reasonable purchaser, or mortgaged to a person of reasonable prudence as security for the loan of money. <\/span><\/span>Moore v Williams<\/em>, 115, NY 586, 22 NE 233<\/span>.<\/span><\/span><\/strong><\/p>\n

A title free from litigation, palpable defects, and grave doubts, and fairly deductible of record. Reynolds v Borel<\/span><\/em>, 86 Cal 538, 25 P 67<\/span>.<\/strong> [2]<\/span><\/p>\n

1. Valid and marketable title.<\/strong> [3]<\/span><\/p>\n

\u00a0 \u00a0 \u00a0Excerpt from Chapman W. Maupin’s Marketable Title to Real Estate<\/em><\/a> 1-2\u00a0(2d ed. 1907):<\/span><\/strong><\/p>\n

\u00a0 \u00a0 \u00a0\u201cA good title consists in the rightful ownership of the property and in the rightful possession thereof, together with the appropriate legal evidence of rightful ownership. \u00a0The rightful owner of an estate may be in the rightful possession thereof, but unless he is supplied with the documentary evidence of title, where he holds by purchase, or can prove his right by the testimony of witnesses or other instruments of evidence, where he holds as heir, that is, by descent, his title cannot be said to be good. \u00a0Sir William Blackstone declares that a perfect title consists in the union of the possession, the right of the possession and the right of property in one and the same person. \u00a0This is true in a general sense, but the definition scarcely embraces all the elements of a good title, as that term is employed between vendor and purchaser. \u00a0A purchaser in possession who has paid the whole purchase money, but who has not received a conveyance, may be said to have the possession,\u00a0<\/span><\/span><\/strong>the right of possession and the right of property, but not having received a deed, the indispensable evidence of legal title in such a case, his title cannot be said to be good.<\/span>” \u00a0[4]<\/span><\/strong><\/p>\n

marketable title:
\n<\/span><\/strong>(18c)<\/span><\/p>\n

1. A title<\/a> that a reasonable buyer would accept because it appears to lack any defect and to cover the entire property that the seller has purported to sell; a title<\/a> that enables a purchaser to hold property in peace during the period of ownership and to have it accepted by a later purchaser who employs the same standards of acceptability.<\/strong> \u2014 aka\u00a0good title<\/span><\/strong><\/em>; merchantable title<\/strong><\/em><\/span>; clear title<\/strong><\/em><\/span>. [1]<\/span><\/p>\n

1. A title<\/a> good as a matter of law, its validity not being dependent upon the determination of any question of fact. Wurzweiler v Cox<\/em>, 138 Or 110, 5 P2d 699<\/span>; First Nat. Bank of St. Johnsbury v Laperie,<\/em> 117 Vt 144, 86 A2d 635, 30 ALR2d 958<\/span>.<\/span><\/strong><\/p>\n

A title<\/a> that a person of reasonable prudence and intelligence, guided by competent legal advice, will be willing to take and pay for according to the fair value of the land. Campbell v Doherty<\/em>, 53 NM 280, 206 P2d 1145, 9 ALR2d 699<\/span>.<\/span><\/strong><\/p>\n

A title<\/a> not subject to such reasonable doubt as will create a just apprehension of its validity in the mind of a reasonable, prudent and intelligent person. Campbell v Doherty<\/em>, 53 NM 280, 206 P2d 1145, 9 ALR2d 699<\/span>.<\/span><\/strong><\/p>\n

A title<\/a> free from reasonable doubt both as to matters of law and fact, at law and in equity; a title which a reasonable purchaser, well informed as to the facts and their legal bearings, willing and ready to perform his contract, would, in the exercise of that prudence which businessmen ordinary bring to bear upon such transactions, be willing to accept and ought to accept. Robinson v Bressler<\/em>, 122 Neb 461, 240 NW 564, 90 ALR 600<\/span>.<\/span><\/strong><\/p>\n

Such ownership as enables and insures to the owner the peaceable enjoyment and control of the land as against all others. Barnard v Brown<\/em>, 112 Mich 452, 70 NW 1038<\/span>.<\/span><\/strong><\/p>\n

A title<\/a> <\/span> free from liens<\/a> or encumbrances, and dependent for its validity on no doubtful questions of law or fact\u00a0\u2014 a title either of record, or, if dependent upon facts\u00a0<\/span>extrinsic<\/span>\u00a0to the\u00a0record, dependent upon facts sure to be easily accessible at all times in the future to a vendee, should his title at any time be attacked. <\/span><\/span>Anno: 57 ALR 1284<\/span>.<\/span><\/span><\/strong><\/p>\n

A title which the purchaser of real estate under a contract is impliedly bound to accept in the absence of a provision requiring a particular kind of title. Anno: 46 ALR2d 547<\/span>.<\/strong> [2]<\/span><\/p>\n

1. A title free from encumbrances for which a person of reasonable prudence and intelligence, who is well informed as to the facts and their legal significance, would be willing to pay fair market value. \u00a0Property to which the owner has marketable title is salable property.<\/span><\/strong>
\n\u00a0 \u00a0 \u00a0See clear title<\/em>; good title;<\/em> legal title<\/em>; record title<\/em>.<\/span>
\n\u00a0 \u00a0 \u00a0Compare bad title<\/em>; unmarketable title<\/em>. [3]<\/span><\/p>\n

merchantable title<\/span> – A marketable title. \u00a0A title which a reasonably prudent man would accept in the ordinary course of business after being fully apprised of the facts and the law applicable thereto. Holiday v Arthur<\/em>, 241 Iowa 1193, 44 NW2d 717, 24 ALR2d 1302<\/span>; Campbell v Doherty<\/em>, 53 NM 280, 206 P2d 1145, 9 ALR2d 699<\/span>.<\/strong> [2]<\/span><\/p>\n

1. A marketable title.<\/strong> [3]<\/span><\/p>\n

\u00a0 \u00a0 \u00a0Excerpt from Paul E. Basye’s\u00a0Clearing Land Titles<\/em><\/a> 5 371,\u00a0at 539 (1953):<\/span><\/strong><\/p>\n

\u00a0 \u00a0 \u00a0\u201cOne definition of a marketable title which has been put forward repeatedly is one free from all reasonable doubt. \u00a0Stated another way, a marketable title is one which does not contain any manner of defect or outstanding interest or claim which may conceivably operate to defeat or impair the interest which is bargained for and is intended to be conveyed. This negative concept of marketability has become an implied invitation for courts to declare titles unmarketable if an examiner has entertained any doubt whatever with respect to them. The digests attest the painful truth that claims of a bygone era cling like barnacles to land titles and encumber them long after they should have been scraped clean. . . . We need to replace this negative approach by a positive one which will make the marketability of titles depend solely upon their state during some recent interval of time rather than upon their entire history.<\/span>\u201d\u00a0<\/span><\/strong>[5]<\/span><\/p>\n

Assessing a Title – Is it Good?<\/em><\/strong><\/span><\/p>\n

#1: To Have Good (Marketable, Clear) Title,<\/span><\/strong><\/span>
\nOne Must Have the Following:<\/span><\/strong><\/p>\n

legal title<\/span> <\/a>– evidences apparent ownership but not necessarily full and complete title or a beneficial interest; must be\u00a0marketable<\/a>\u00a0to be considered legally sufficient.<\/span><\/strong><\/span><\/p>\n

equitable title<\/span><\/a> – indicates a beneficial interest in property, recognized as ownership in equity, but not legal title, that gives the holder the right to have the legal title transferred to him.<\/span><\/strong><\/p>\n