Aristocrat Title Glossary of Terms

This glossary is provided by Aristocrat Title to help consumers and REALTORS® better understand the closing process. For questions specific to your transaction, reach out to our team anytime.

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Term Definition
Abstract of Title

A historical summary of all recorded documents affecting a property, including ownership transfers, liens, and legal claims.
ALTA (American Land Title Association)

The national trade association that sets standards and best practices for the title industry. ALTA policies protect buyers and lenders during real estate transactions.
Appraisal

A professional estimate of a property’s market value, typically required by a lender before approving a mortgage.
Assessed Value

The value assigned to a property by a local government for tax purposes. Not the same as market value.