Glossary
Majority
The age at which a person is entitled to handle his or her own affairs.
Marketable Title
A good title about which there is no fair or reasonable doubt.
Mechanic's Lien
A lien allowed by statute to contractors, laborers and material suppliers on buildings or other structures upon which work has been performed or materials supplied.
Metes and Bounds
A description of land by courses and distances.
Minor
One who because of insufficient age or status is legally incapable of making contracts.
Monument of Survey
Visible marks or indications left on natural or other objects indicating the lines and boundaries of a survey. May be posts, pillars, stones, cairns, and other such objects. May also be fixed natural objects, blazed trees, roads and even a water course.
Mortgage
An instrument used to encumber land as security for a debt.
Mortgage-Backed Security
A security evidencing either the ownership of an interest in a mortgage loan or pools of mortgage loans, or a separate obligation secured by a mortgage loan or pool of mortgage loans.
Mortgage Banker
A specialized lending institution that lends money solely with respect to real estate and secures its loans with mortgages on the real estate.
Mortgage Broker
A person or company that buys and sells mortgages for another on commission or who arranges for and negotiates mortgage contracts.
Mortgage Revenue Bonds
Issued by communities as a means of providing lower cost mortgage funds to certain qualified borrowers.
Mortgagee
The mortgage lender.
Mortgagee's Policy
Mortgagor
The mortgage borrower.
