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OBLIGEE:
One to whom an obligation (promise) is owned.
OBLIGOR:
One who legally binds (obligates) oneself, such as the maker
of a promissory note.
ORIGINAL
COST:
The purchase price of property, paid by the present owner.
The present owner may or may not be the first owner.
OWNER'S
POLICY:
A policy of title insurance usually insuring an owner of
real estate against loss occasioned by defects in, liens
against or unmarketability of the owner's title.
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