I thought marketable title means "free from reasonable doubt" and that unmarketable title means if the seller does not own the property he purports to sell or if the property is subject to a lien, easement or other encumbrance. Is this correct? I thought that in a typical real estate purchase contract, there is an implied convenant that seller must deliver marketable title. Thanks in advance for your response.
Simply put, marketable title means you can sell the property because you own it and can convey good title. It sounds like the seller has done that. An easement is an agreement regarding use of the land which comes with the property. It doesn't necessarily affect marketable title. They're two different things. Mr. Doland is right. Hire a lawyer and get it done right.