What is meant by "curative action" in the context of real estate?

In the context of real estate, "curative action" specifically refers to steps taken to correct title defects. These defects could stem from various issues, such as unclear ownership, outstanding liens, or errors in public records. The primary goal of curative action is to resolve these problems, ensuring that the title is clear and marketable for potential buyers. This process is crucial because a clear title is essential for a successful transaction, as it assures buyers that they will have undisputed ownership of the property.

By addressing issues such as repairing discrepancies in the title or resolving claims against the property, curative actions help facilitate smoother transactions and protect the interests of both buyers and sellers. Understanding this definition is vital for professionals in the real estate field, as they often need to navigate and rectify title issues to ensure compliance and secure sales transactions.