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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.

Waive
To release or abandon a right or a privilege.
Waiver
The act of releasing or abandoning a right or a privilege.
Warranty Deed
A deed containing express covenants as to good title and right to possession.
Waste
Destruction or injury to real property.
Water Right
The right of an owner of land to use water adjacent to or below the surface of the land.
Wrap-Around Mortgage
Same as an "all inclusive mortgage": One incorporating the balance due under a prior mortgage.
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