Legal Definitions - marketable-title act

The Marketable-Title Act is a state law that allows a person to establish good title to land by searching the public records only back to a specified time, usually around 40 years. This means that if a person can prove they have a marketable title, they have legal ownership and control over the property.

For example, if John wants to buy a piece of land, he can search the public records for the past 40 years to ensure that there are no conflicting claims or defects in the title. If he finds a marketable title, he can purchase the land with confidence that he has legal ownership.

The Marketable-Title Act is important because it helps to simplify the process of buying and selling real estate by providing a clear and concise way to establish ownership. It also helps to protect buyers from any hidden defects or claims on the property.