For the next set of definitions, we will be discussing common real estate and closing terms beginning with the letter Q to the letter Z. This is the final part of a three part informational blog about title insurance and common terms used in the title insurance, real estate and the closing process. I hope that everyone who has took the time to read these definitions and articles are better informed and have a better understanding of what is going on in their title insurance transactions, real estate transactions and closing transactions.

Qualification: The process of reviewing a prospective borrower's credit and payment capacity prior to approving a loan.

Quitclaim Deed: A deed relinquishing all interest, title or claim in a property by a grantor. Accomplished without representing that such title is valid, nor containing any warranty or covenants of title.

Real Estate Settlement Procedures Act (RESPA): A federal statute requiring disclosure of certain costs in the sale of residential, improved property which is to be financed by a federally insured lender.

Re-conveyance: The conveyance to the landowner of the title, held by a trustee under a deed of trust, when the performance of the debt is satisfied.

Recordation: Involves filing for record in the office of the county recorder for the purpose of giving constructive notice of title, claim or interest in real property.

Record Owner: The owner of property as shown by an examination of the public record.

Statement of Information (SI): A confidential information statement completed by the buyer, seller and borrower in every transaction where a policy or policies of title insurance are requested. Allows the title company to competently search documents affecting the property to be insured, documents which may not refer to said property. Allows title companies to differentiate between parties with similar names when searching matters such as liens and court decrees.

"Subject To" Clause: A clause in a contract of sale setting forth any contingencies or special conditions of purchase and sale, such as an offer made and accepted subject to financing, securing certain zoning or similar requirements.

Subordination Agreement: An agreement under which a prior or superior lien is made inferior or subject to an otherwise junior lien.

Tax Lien: A statutory lien imposed against real property for nonpayment of taxes.

Tenancy in Common: Co-ownership in a property by two or more persons, each of whom has an undivided interest in the whole property.

Title Plant: The information warehouse of a title company in which it has accumulated and is constantly updating title records of properties in its area which it can use to search title to real property.

Trustee: A person who holds title in trust for the benefit of another. In a deed of trust, the trustee is the person named to hold title in trust for the benefit of the lender until the loan is paid off.

Trustor: The borrower under a deed of trust. One who deeds their property to a trustee as security for repayment of a loan.

Uniform Settlement Statement: The standard HUD Form 1 required to be given to the borrower, lender and seller at, or prior to, settlement.

Unmarkable Title: Title which contains defects that would allow a purchaser to be released from his obligation to purchase.

Vesting: Denotes the manner in which title is held. Examples of common vesting’s are: Community Property, Joint Tenancy and Tenancy in Common.

Veterans Administration (VA): VA has power and authority to guarantee or insure payment of loans made to veterans by private lending institutions. This function is similar to that of FHA. VA also makes direct loans to veterans in non-urban areas where private loan funds are not available.

That concludes the end to the 4th and final section of this series. If you read all the articles, you should be a man or woman with a new vocabulary.

We will be starting a new series involving what is the difference between title insurance and casualty insurance. We will also be discussing the different types of insurance that are available and how they compare to title insurance itself. At My Title Direct, we are a group of professionals when it comes to real estate and title insurance transactions. We are more than willing to answer any questions you may have. Please email me at with any questions. If you are interested getting a free instant quote, please visit our website at  All of our quotes are 100% guaranteed not to change and we charge no upfront fees.