Legal Definitions - title opinion

Definition: A lawyer's or title company's opinion on the state of title for a given piece of real property, usually describing whether the title is clear and marketable or whether it is encumbered.

Example: John wants to buy a house, but before he does, he hires a lawyer to conduct a title search and provide a title opinion. The lawyer examines the property's history and determines that the title is clear and marketable, meaning there are no liens or other issues that could prevent John from owning the property.

Explanation: A title opinion is a legal document that provides an expert's understanding of the state of a property's title. It is important for buyers to obtain a title opinion before purchasing real estate to ensure that they are getting a clear and marketable title. The example illustrates how a lawyer's examination of a property's history can lead to a determination of whether the title is clear and marketable or encumbered.