Generally, the term comes from the fact that the paper the salvage title is printed on is blue while a clear title is on green paper. However, in some states, a blue title is a clear or clean title. Texas titles issued by the Texas Department of Motor Vehicles are printed on blue paper only if they are clear and unencumbered by liens.
What makes a title not clean?
A car with a clean title simply indicates that it has never been deemed a total loss, otherwise known as a salvage car. The alternative to a clean title is a car that has been deemed a total loss – the term for that is a 'branded or salvage title', and you've been taught those are scary words.
What does clear title on a car mean?
Clear title: This states that the vehicle has no outstanding financial burden of any kind that would prevent it from being sold. It is the most desirable car title, and in many cases, the only one that makes you eligible for a car loan. In some states, junk titles are considered the same as salvage titles.
What does clear title mean on a house?
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.
Related Question What is the difference between a clean title and a clear title?
What is a non public clean title?
Minnesota Peddle Non Public Clean Title means that it cannot be sold through auction to public. In which case it's a clean title for us because we are a dealer. This will be a clean title, however please keep in mind, any vehicle sold through an auction may become salvage during registration due to NMVTIS law.
Do you get escrow money back at closing?
Once the real estate deal closes and you sign all the necessary paperwork and mortgage documents, the earnest money is released by the escrow company. Usually, buyers get the money back and apply it to their down payment and mortgage closing costs.
Do cash sales require escrow?
Unless your buyer pays all cash, the buyer's mortgage lender may require escrow. The sale of your home not only depends upon the buyer agreeing to its value, but the mortgage lender must also approve. The way a mortgage lender approves is with a formal appraisal of your property.
How do you Unsalvage a title?
In most states, cars with salvage titles are considered unfit to drive and cannot legally be on the road. Though a salvage designation can never be completely removed from a vehicle's title, if a car is completely repaired and passes a state inspection, a rebuilt salvage title or rebuilt title will be issued.