What defines a marketable title?

A marketable title is defined as one that is free of defects and provides a degree of certainty to the buyer regarding their ownership rights. This means that the title must not have any encumbrances, liens, or legal issues that could potentially jeopardize the buyer's ability to sell or transfer the property in the future. A marketable title ensures that the buyer can take possession of the property without worry of disputes or claims from others.

This concept is vital in real estate transactions, as it assures the buyer that the property will transfer smoothly and without complications. An ideal title provides a clear path for ownership and can be successfully defended if challenged, but it is primarily characterized by its lack of legal defects, making option C the best definition of a marketable title.

In the context of the other options, while a title with minimal defects may seem appealing, it does not guarantee the comprehensive assurance that comes with a truly marketable title. A title that requires legal defense implies potential issues that could create obstacles for the buyer, thus failing to meet the criteria of being marketable. Lastly, a conditionally accepted title introduces uncertainty, which directly contradicts the concept of marketability in real estate ownership.