What is a marketable title?
A) A title for desirable property
B) A title that has no defects that could carry over as a problem for the new owner at whatever time the new owner decides to sell the property
C) A title that is available to the entire market without any discrimination
D) A title that is at market price
Answer (2)
A marketable title is a title for property that is free from significant defects, ensuring ownership rights are secure for current and future owners. The correct answer is option B: "A title that has no defects that could carry over as a problem for the new owner at whatever time the new owner decides to sell the property." This concept is critical in real estate to protect buyers from legal issues related to ownership.
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A marketable title is a property title that is free from significant defects, protecting the new owner's rights when they decide to sell. The correct answer is option B, which emphasizes the absence of defects. Ensuring a marketable title is crucial in real estate to safeguard ownership interests. ;
