Marketable (or merchantable) title means the property’s ownership is free from significant doubts, defects, or encumbrances that would cause a reasonable, well-informed buyer to hesitate or expose them to the risk of litigation. It doesn’t have to be perfect — minor, expected items like a standard utility easement don’t make title unmarketable — but unresolved liens, breaks in the chain of ownership, boundary disputes, or competing claims do. Most purchase agreements obligate the seller to convey marketable title at closing. The title search, any curative work to clear defects, and the title insurance policy are how the title company confirms title is marketable and protects you if a covered defect surfaces later.