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Title Insurance Terms & Phrases

Terms and Phrases is Chicago Title's Glossary of definitions, meanings, and descriptions of significance for some of our industry's most often used terms and phrases.

Naturalization
The conferring of rights of citizenship to a person who has been an alien.
Naturalized Citizen
A person made a citizen of the United States by act of congress.
Neap Tides
Tides occurring between the full moon and the change of the moon, twice every twenty-four hours.
Negotiable
Capable of transfer by endorsement in the ordinary course of business.
Negotiable Instrument
Instruments with special legal incidents permitting free circulation in commerce.
Nominee
A person designated to act in the place and stead of another.
Nonjudicial Foreclosure Sale
Sale of property pursuant to the power of sale provisions contained in a security instrument.
Notarize
To prove execution of a document by means of a notary public’s certificate of acknowledgment.
Notary Public
A person authorized by law to take acknowledgments and to administer oaths.
Note
A common reference to a promissory note.
Note of Action
A lis pendens.
Notice of Cessation
A recorded notice shortening the time for filing mechanics’ liens if work ceases prior to completion.
Notice of Completion
A notice recorded within ten days of completion of a work of improvement signaling commencement of the time period within which claims of mechanics’ liens must be recorded.
Notice of Default
A recorded notice of a trustor’s failure to perform his/her obligation under a deed of trust. The beginning step in nonjudicial foreclosure of a deed of trust.
Notice of Non-Responsibility
A recorded notice by an owner of real property that he/she will not be responsible for payment of costs of improvements contracted for thereon by some other person.
Notice to Quit
Notice given by landlord to a tenant to pay rent within three days or vacate premises.
Novation
The substitution of a new obligation for an old one.
Nunc Pro Tune
Now for then; a tardy act made retroactive to the time when the act should have been done.
Nuncupative Will
An oral will.
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