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BARGAIN AND SALE DEED A deed which recites a consideration and conveys all of the grantor's interest in the property to the grantee. CANTILEVER A projecting beam or overhanging portion supported at one end only. MONUMENTS Visible markers, both natural and artificial objects, which are used to establish the lines and boundaries of a survey. ASSUMPTION OF MORTGAGE The act of acquiring title to property which has an existing mortgage on it and agreeing to be personally liable for the terms and conditions of the mortgage, including payments. CLOSING (OR SETTLEMENT) The settlement or closing is the conclusion of your real estate transaction. It includes the delivery of your security instrument, signing of your legal documents and the disbursement of the funds necessary to the sale of your home or loan transaction (refinance). |
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