Legal Definitions - abstract of title

Definition: An abstract of title is a summary of important information about a property's ownership history. It includes details about any liens, transfers, or other relevant facts that affect the property's title.

For example, if someone wants to buy a house, they will usually get an abstract of title to make sure that the seller has the legal right to sell the property. The abstract will show if there are any outstanding debts or other issues that could affect the sale.

Another example is if a bank wants to foreclose on a property. They will need to get an abstract of title to make sure that they have the legal right to do so. The abstract will show if there are any other parties with a claim to the property.

Overall, an abstract of title is an important document that helps ensure that property transactions are legal and valid.