noun a brief summary or outline of the ownership history of a piece of real property, including transfers, liens, and encumbrances
In real estate, an abstract of title is a summary of the history of ownership and transfers of a property, used to verify that the seller has the legal right to sell the property.
In the legal field, an abstract of title is often used in property law cases to establish ownership and rights to a property.
Abstracts of title are commonly used in property law to research and verify ownership history of a property.
Land surveyors may refer to abstracts of title when conducting boundary surveys or property line disputes.
Title insurance companies use abstracts of title to assess the risk of issuing a policy on a property.
A real estate agent may use an abstract of title to provide potential buyers with a summary of the property's ownership history, including any liens or encumbrances.
A title examiner uses an abstract of title to review and analyze the chain of ownership of a property in order to determine if there are any defects in the title that may affect the property's marketability.
A real estate attorney may use an abstract of title to conduct a title search and ensure that the property being purchased has a clear and marketable title free of any legal issues or claims.