Friday, July 2, 2010

The A-Z of Escrow: L & M





Metes and Bounds:
A term used in describing the boundary lines, terminal points and angles of a specific piece of land.

Lender's Policy: Protection for the mortgage holder, so that if there is a fault in title that results in a loss, the mortgage company will be paid back.

Lis Pendens: A notice recorded in the official records of a county to indicate that a lawsuit is pending affecting the lands described in the notice.


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