Judgment and Name Search: Part of the title search. Determines if there are any unsatisfied judgments against the seller or previous owners which were in existence while they owned the title.
Imp
ounds: Type of a trust account established by lenders for the accumulation of borrower's funds to meet periodic payments of taxes, mortgage insurance premiums, and/or future insurance policy premiums, required to protect their security. A portion of the monthly mortgage payment that is placed in an account and used to pay for hazard insurance, property taxes and private mortgage insurance. Indemnity: Insurance against possible loss or damage.
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