Articles Tagged with title

The Marketable Record Title act provides a statutory time limit to eliminate certain liens. Specifically, the purpose is to enhance the marketability of property by fixing an expiration date for certain interests, which are generally ancient mortgages, deeds of trust, unexercised options, powers of termination, unperformed contracts for the sale of real property, dormant mineral intersts, and abandoned easements, while also providing a procedure for allowing the interests to be preserved. In other words, the Act helps to simplify and facilitate real property transactions. In this blog, we’ll delve into what the Marketable Record Title Act entails, its significance, and how it impacts property owners.

What is the Marketable Record Title Act (MRTA)?

The Marketable Record Title Act is a piece of legislation adopted by many states in the United States with the aim of clarifying and simplifying real property titles. Its primary objective is to extinguish certain old and dormant interests in real estate, thereby providing buyers with a more secure and marketable title. (see Robin v. Crowell (2020) 55 Cal.App.5th 727.)