Escrow Terms & Phrases
Terms and Phrases is Chicago Title Glossary of definitions, meanings, and
descriptions of significance for some of our industry's most often used
terms and phrases.
Look for terms and phrases in Alphabetical Order:
Underwriter -- One who insures another. A small title insurance company may buy insurance from a larger one (the underwriter) for all or part of the liability of its policies. A larger title company may buy part of the insurance from another company on high liability policies.
Unity of Title -- In joint tenancy, the holding by the joint tenants under the same title.
Unmarketable Title -- Not salable. A title which has serious defects.
Unrecorded Instrument -- A deed, mortgage, etc., which is not recorded in the county recorder's office and, therefore, not protected under recording statutes. Valid between the parties involved, but not against innocent third parties.