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Marketable Title
Practical Law Glossary Item 4-566-2568 (Approx. 3 pages)
Glossary
Marketable Title
Also known as merchantable title. Title to real property that is so free from claims or defects that a court will enforce a purchaser's obligation to purchase title to the property.
The definition of marketable title:
- Does not assume that the real property is necessarily defect free.
- Assumes a title that a prudent purchaser would accept, acting reasonably in the ordinary course of business.
- Has developed state-by-state through local statutes and case law.