I hear the expression “good and clear record and marketable title.” What does that mean? And if I don't have it does that mean I cannot sell my property?

Good and clear record and marketable title is a standard that real estate attorneys and title insurance companies use to determine whether or not a person owns the property and that it is free of any liens, mortgages or other claims. That is generally ascertained after a title has been examined for a period of 50 years and a lawyer or title company in its wisdom deems the title to be good and clear record and marketable. They will generally come to that conclusion unless there is some question or “cloud” which would make the buyer think that he might be buying a lawsuit. Even if there is a question as to the marketability of the title, a title insurance company may very well agree to insure over the issue raised with the title if they believe that it would be unlikely that anyone would make such a claim. That is why the word “insurance” is in the name of the title insurance company. In fact, before the advent of the so-called secondary market for the purchase of home mortgage loans, title insurance was only used when there was a question of marketability of title. The title insurance company was used as a cheaper alternative to a court action to determine that the “cloud” could be removed. Title insurance companies will generally agree to provide that kind of affirmative insurance where they have in the past issued a title insurance policy on that property.