Arrowhead Title, Inc.

The title industry is vast and complex, with a unique vocabulary all its own. Last week, Arrowhead Title, Inc. took it upon ourselves to help you decipher some of our industry's terms so that you can feel more confident as you navigate your real estate transactions. This week, we're continuing the conversation with some additional terms you are likely to encounter while selling or buying property at the Lake of the Ozarks .  Common Title Terms - Explained Quiet Title A quiet title suit is a legal process designed to cancel and/or "quiet" unenforceable claims that have created a cloud on a title . Restrictive Covenant / Restriction A restrictive covenant is a limitation of the use of a specific piece of property. It may be imposed by deeds or other documents that appear within the chain of title. Settlement Also referred to as "closing" or "close of escrow," a settlement is the time during which the sale of a piece of real property is...

Real estate is a complex industry with a unique set of vocabulary and industry terms all its own. If you have not been involved in the real estate scene recently (or even if you have been), you may have trouble interpreting the various terms you come across during the process of buying or selling a home.  Arrowhead Title, Inc. is here to help! Keep reading to find the definitions to some common real estate terms you are likely to encounter as you sell or buy a home at the Lake of the Ozarks . Common Real Estate Terms & Their Definitions Adjustable Rate Mortgage (ARM) This type of mortgage has a set interest rate for a fixed number of years, after which the interest rate will adjust to reflect the current market rates. Amortization Schedule This is a table or document that shows the planned monthly payments for the duration of your mortgage loan. It identifies how much will go towards principal and how much will go towards interest each month so you can understand...