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Georgia Real Estate

Chapter 21

TermDefinition
Constructive notice the knowledge that is available by making a diligent search. By recording documents at the county courthouse, a person with rights to the property provides constructive notice to the world of their interest.
Actual notice knowledge that one has gained based on what one has seen, heard, read or observed. If you go to the property and see someone in possession, you have actual notice of that person may have a claim to be there.
Acknowledgment A formal declaration by a person signing a document that they did in fact sign the document.
chain of title shows the linkage of property ownership that connects the present owner to the original source of title. In Georgia, a 50-year title search is considered to be sufficient
abstract of title a complete historical summary of all recorded documents affecting the title of a property. It list’s out in chronological order, they entire history of the title chain.
opinion of title The abstract is sent to an attorney who renders an opinion of title as to who the fee owner is, and names anyone else with a legitimate right or interest to the property. This opinion is known as a certificate of title.
Marketable title title that is reasonably free of litigation
quiet title suit permits a property owner to ask courts to hold hearings on the ownership of land. a judgement to “quiet” all other interest
Created by: user-1812658
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