Title Insurance and Closing Services Since 1954
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.
An insurance company that issues insurance policies to the public or to another insurer.
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.