What is the term used for an abbreviated history of a property, including info on transfers, grants, and liens?

What is the term used for an abbreviated history of a property, including info on transfers, grants, and liens?

• A. Title Report
• B. Abstract of Title
• C. Property Deed
• D. Property History

Answer: (B)

The term that refers to an abbreviated history of a property, which includes information on transfers, grants, and liens, is known as the Abstract of Title. This document summarizes the various legal documents affecting the title to the property, including all past ownership, any liens or encumbrances, and pertinent information that can affect the property’s title status. The Abstract of Title is essential for real estate transactions as it provides a clear picture of the property’s legal standing and ownership history, helping to verify that the seller has the right to sell the property free of any undisclosed claims or liens. This ensures that the new buyer is fully informed before proceeding with the purchase, thereby minimizing the risk of future disputes over ownership.

The term that refers to an abbreviated history of a property, which includes information on transfers, grants, and liens, is known as the Abstract of Title. This document summarizes the various legal documents affecting the title to the property, including all past ownership, any liens or encumbrances, and pertinent information that can affect the property’s title status. The Abstract of Title is essential for real estate transactions as it provides a clear picture of the property’s legal standing and ownership history, helping to verify that the seller has the right to sell the property free of any undisclosed claims or liens. This ensures that the new buyer is fully informed before proceeding with the purchase, thereby minimizing the risk of future disputes over ownership.