The title industry has its own language. Many of its words and idioms are derived from the language of the law while others are common words given special meaning related to land titles. There are also words and phrases coined over the years by the title industry itself.
Glossary
O
OFFICIAL RECORD BOOK
One of a set of books in the public records in which is recorded all papers filed for record. Such books supplant deed books and mortgage books.
OPINION
In title industry parlance, referred to as title opinion. The conclusion and judgement of a skilled person as to the status of a title, based upon a title examination.
OWNER’S POLICY
A policy of title insurance usually insuring an owner of real estate against loss occasioned by defects in, liens against, or unmarketability of the owner’s title.
