marketable title

(redirected from Marketing title)
Also found in: Financial.

Marketable Title

Ownership and possession of real property that is readily transferable since it is free from valid claims by outside parties.

The concept of marketability of title refers to ownership of real estate. Under law, titles are evidence of ownership. Selling real estate (land and the property attached to it) involves transferring its title. A marketable title is one that can be transferred to a new owner without the likelihood that claims will be made on it by another party. The concept is crucial in all real estate transactions because buyers generally expect to receive property to which no one else can lay claim; they do not expect that their ownership will later be challenged. Marketability of title is addressed in the contract for sale. Unless a contract for sale specifies that a third party has claims on the real estate, there is an implied provision that the seller has a good or marketable title, which the buyer will receive.

However, some real estate that is for sale will have outside claims against it. These claims are known as clouds and encumbrances. For instance, the owner of the title may have outstanding debts or owe interest that has resulted in a lien being placed on the property. The lien gives the owner's creditor a qualified legal right to the property in question, which remains in effect until the debt is settled. Because liens are long-lived (they can remain in force across generations), many states have tried to simplify land transactions by adopting marketable title acts. Generally, these laws limit the duration of a lien to a period of years during which the lien holder must take some action to satisfy the lien, or it is extinguished. Typically these laws apply to liens in existence at the time of the law's creation, as well as to future liens.

Ordinarily, contracts for the sale of real estate provide a remedy for a buyer who later discovers that the title is not marketable. If the seller has failed to provide marketable title, the buyer is permitted to rescind the sale—that is, to back out of the contract and receive a refund of the money paid for the property. Suppose, for example, that Mary buys land from Bob. The contract of sale declares that Bob holds marketable title to the land. After paying Bob, Mary receives a letter from an attorney saying that a business called Lou's Used Cars holds a lien on the property because Bob is using it as collateral for a car loan. In this case Bob has failed to provide Mary with marketable title. He will soon be hearing from her attorney, who will say that Mary is rescinding and wants her money back.


Cloud on Title; Real Property; Title Insurance; Title Search.

West's Encyclopedia of American Law, edition 2. Copyright 2008 The Gale Group, Inc. All rights reserved.

marketable title

n. the title to real property which has no encumbrances (mortgage, deed of trust, lien, or claim) and which is free of any reasonable objection (excluding minor mistakes in the description or typographical errors). A court will enforce a contract to buy and sell real estate if there is marketable title. (See: real property, contract)

Copyright © 1981-2005 by Gerald N. Hill and Kathleen T. Hill. All Right reserved.

marketable title

in conveyancing in Scotland, an implied term of every contract for the sale of heritage that the seller will inter alia deliver a marketable title, which not only means that there will be no eviction but also that there will be no reasonable challenge that can be made.
Collins Dictionary of Law © W.J. Stewart, 2006
References in periodicals archive ?
Do It Day is being introduced to the region today in association with leading marketing title The Drum and founding Do it Day fringe partner Karol Marketing.
In addition to the marketing title, Wilson will also assist affiliated Finnegan Medical Supply with its startup e-commerce venture.
The television commentators have been given blazers with ' SRT 200' -- the host broadcaster's marketing title for the match -- sewed into the front pocket.
The magazines include "Customer Management," a monthly with a circulation of 10,000 customer service directors and managers, and IT and finance directors, and "Selling Financial Services," a quarterly sales and marketing title for financial advisors and intermediaries.
In May Admiral was named the Western Mail Welsh Company of the Year, while SA Brain took the Excellence in Marketing title in the paper's Welsh Business Awards.
For my direct marketing title, the only "related" one we had was Postal World.
The marketing title had been vacant since July, not an advantage in maintaining strategy.
For my direct marketing title, a huge mailing was 30,000 pieces.
Jon Poto, vice president of sales, adds the marketing title and duties.
The Marketeer, launched last August as the first marketing title to operate out of the North West by former Adline man Tony Murray, took over the Roses event last autumn - it celebrates its 20th anniversary in May.
Her marketing title was transferred to Jim Holcomb when he joined the firm as vice president of marketing last August.

Full browser ?