Real Estate Glossary
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Good Faith or Mortgage Savings CLAUS
A clause in CC & R's which provides that a violation thereof shall not defeat or render invalid the lien of any mortgage or deed of trust made in good faith and for value.
Good Faith Purchaser or Mortgagee:
A person who buys or lends in good faith, that is, without notice of any existing problem, where value is paid or lent.
A transfer of real estate, between individuals, by deed. A transfer of real estate from a sovereign is accomplished by patent or royal decree.
One of the many types of deeds used to transfer real property. Contains warranties against prior conveyances or encumbrances. When title insurance is purchased, warranties in a deed are of little practical significance.
A person appointed by a court to manage the person and/or property of one who is legally incompetent to handle his/her own affairs.