Get L 11-26 August 18, 2011 Name Title ... - State Of Michigan - Michigan

In Michigan, tradition is that the seller pays for the Owner's Policy which insures the purchaser, and the purchaser pays for the Lender's Policy that insures the lender for the mortgage. The seller has traditionally selected the title and closing agent because they need to show their ownership of the Property.

Key Takeaways. A branded title indicates that a car was once declared a total loss or comes with some other major problem. Cars with branded titles have been repaired or rebuilt and sold. A branded title can mean the car was damaged in a flood, its odometer was rolled back, or it was involved in a major accident. What Is a Branded Title? What It Means, Types, and Risks investopedia.com https://.investopedia.com › what-is-a-branded-title-5... investopedia.com https://.investopedia.com › what-is-a-branded-title-5...

A clear title, also known as a “clean title,” is a property title that is free from liens or additional issues that could jeopardize ownership, such as boundary disputes (encroachments) or easements. With a clear title, there's no doubt who the owner of the property is, or who can claim legal ownership of the property. What is a clear title? How to check if a property has one - Bankrate bankrate.com https://.bankrate.com › mortgages › clear-title-prop... bankrate.com https://.bankrate.com › mortgages › clear-title-prop...

salvage title Generally speaking, a blue title always refers to vehicles that have a salvage title. The term stems from the color of the paper the title was printed on. So, if you want an automobile in good condition, it should always have a green one. What Is A Blue Title? - J.D. Power jdpower.com https://.jdpower.com › cars › shopping-guides › wh... jdpower.com https://.jdpower.com › cars › shopping-guides › wh...

Salvage vehicle titles are ORANGE in color. Scrap vehicle titles are RED in color. Regular vehicle titles are GREEN in color.

There are three types of car titles that most drivers will encounter, clear/clean title, lienholder title and electronic title.

A rebuilt title in Michigan is also called an 'orange title. ' This certification means the car receives a certificate with the word 'totaled' stamped. Receiving this title means the insurance company had to write off the car as a total loss after the damage.