An 'Abstract of Title' is a comprehensive summary of all significant legal actions, including recorded instruments and court proceedings, that relate to a particular property's title. It serves as an essential document for title examination, providing potential buyers, investors, and lenders with a detailed history of property ownership and encumbrances.
A Chain of Title refers to the sequential historical record of documentations pertaining to the ownership and encumbrances of a specific property, tracked back to the earliest available records or original grant.
A good and marketable title refers to a title free from significant defects, claims, or liens, ensuring the property can be freely transferred without legal complications.
A Title Abstract, or Abstract of Title, is a comprehensive summary of the history of a piece of real estate. It includes a chronological record of all historical transactions, liens, easements, encumbrances, and other activities affecting ownership rights.
