Property Ownership
Ohio's Marketable Title Act helps protect property owners by:
AGuaranteeing all titles as insurable after 40 years
BExtinguishing old claims, interests, and encumbrances that are older than 40 years and not properly preserved of record✓ Correct
CPreventing adverse possession claims on titled property
DRequiring county recorders to verify all deeds
Explanation
Ohio's Marketable Title Act (ORC Chapter 5301) extinguishes old, unrecorded or stale claims and interests in real property that are more than 40 years old and not properly preserved, simplifying title searches.
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Key Terms to Know
Deed
A written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
EncumbranceAny claim, lien, charge, or liability attached to real property that affects its value or limits its use.
Adverse PossessionA doctrine by which a person can gain legal title to another's land by openly, continuously, and adversely occupying it for a statutory period.
Abstract of TitleA condensed history of a property's title, summarizing all recorded documents and encumbrances affecting it from the earliest record to the present.
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