merchantable title

merchantable title

See marketable title.

References in periodicals archive ?
"Residential is defined to include "or any other one-family residential unit as to which good and merchantable title may be held or conveyed freely under law." Arch Capital also confirmed that the policies do not cover loans that are not in a first lien position.
The traditional mortgage servicing response to a Chapter 7, no-asset filing is to advise counsel to move to lift the automatic stay so that merchantable title can be acquired through foreclosure.
* Preventive Measures--The best way to avoid heirs' property issues is to create a valid will, leaving beneficiaries with clear, merchantable titles. Yet, it is reported that six out of 10 American adults do not have wills, claiming that they "haven't gotten around to it" or they "don't have enough assets." (32) Even if the sole or main asset is a house, however, creating a will is important to avoid intestacy and promoting the importance of wills in vulnerable communities can raise awareness to the issues inherent to heirs' property.