Terms Defined

The Real Estate Industry has its own unique language and, without some knowledge of this language, you may find yourself a bit confused if you become involved in a real estate transaction. Wayne County Title Agency, Inc. has compiled the following Definition of Terms commonly used in the real estate industry. Whether you are entering the real estate market for the first time or have invested in it before, this handy reference will provide an understanding of basic real estate words and phrases.

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Underwriter

An insurance company that issues insurance policies to the public or to another insurer.

Underwritten Company

A title firm which conducts title searches but is not registered with the state to insure, and therefore issues policies of a qualified title insurer (underwriter) in return for a portion of the premium.

NOTICE: The information and materials on this website are provided for general informational purposes only, and do not constitute legal, tax, or accounting advice. We believe such information and materials to be accurate but make no warranty or guaranty to that effect. Anyone involved in a real estate transaction, business transaction, or other matter having legal or financial consequences is urged to retain and consult with their own legal, tax, and accounting advisors.