absolute title -- a clear title that is free of any liens or judgments. A clear title is normally required before a mortgage is granted.
"As applied to title to land, an exclusive title, or at least a title which excludes all others not compatible with it. An absolute title to land cannot exist at the same time in different persons or in different governments." - Black's Law Dictionary 6th Edition.
Fictitious entities, like trusts, corporations, etc. cannot obtain land patents except by express act of Congress. An example of Congress granting land through patents to fictitious entities is the railroad grants made to compensate the railroad companies for building railroads across America.
About the author
Copyright © 2005 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional financial or legal advice. TeachMeFinance.com and its owner recommend consultation with a professional financial advisor prior to any investment or financial decision. Please read our disclaimer.