Abstract of Title

Definition

  • An "abstract" is a summary or statement of the contents within a document.
  • An abstract of title is a historical account of all transactions conducted on the title to a specific property or piece of land. This title covers the property from the first sale to the present and is used by the title company to produce a title binder.

Notes
AB is a common abbreviation for Abstract of Title when used in property listings and real estate classifieds.

Synonyms
statement, summary, legal document

Acronyms
ab

Related Terms and Acronyms

  • Agency Closing Definition,
    • The use of a title company to supervise the meeting where the property is transferred and mortgage is settled.
  • Chain of Title Definition,
    • Legal records that trace ownership of a property from the most recent owner to the original owner.
  • Conveyance Definition,
    • A document that transfers a property title.
    • To move something.
  • Examination of Title Definition,
    • A review of public records and title abstracts to determine the chain of ownership of a property.
  • Land Title Definition,
    • The legal document conveying title to a property.
  • Metes and Bounds Definition,
    • A surveyor's legal description of a parcel of land, defined by measurements and angles.
  • Title Definition,
    • Evidence of a person's right to possession ownership of a property.
  • Title Insurance Definition,
    • Insurance that covers title defects and ownership challenges on a property.
  • Title Search Definition,
    • A check of public records to make sure that the owner of real property has the right to transfer ownership. A title search is designed to spot gaps in the chain of title, liens, problems with the legal description of the property, judgements against the owner, and the like.
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