Marketable Title
Title reasonably free of doubt and defects that a prudent buyer would accept without hesitation — the standard buyers and lessees require before they pay.
Marketable title is ownership that is reasonably free of doubt — clean enough that a prudent, well-informed buyer would accept it and pay full value without fear of future challenge or litigation. It does not mean perfect title; it means no defect serious enough to give a reasonable buyer pause.
This is the bar buyers, operators, and lenders hold you to. After examining the abstract of title, an attorney's title opinion will flag anything that keeps title from being marketable — and those items become curative requirements that must be cleared first.
Sellers usually convey by warranty deed to back up marketability with a promise to defend. For heirs and small owners, the practical takeaway is that resolving probate and old defects up front is what unlocks royalty payments and a fair sale price. This is general information, not legal advice.