Title Abstract Definition and Legal Meaning

On this page, you'll find the legal definition and meaning of Title Abstract, written in plain English, along with examples of how it is used.

What is Title Abstract?

History and Meaning of Title Abstract

Title abstract is a comprehensive history or record of documents regarding a piece of land, which states the chain of ownership of the title or any other liabilities attached to it. An abstractor is typically hired to compile the abstract document by reviewing public records, deeds, wills, court judgments, and other documents that relate to the subject property. The purpose of the abstract is to provide an accurate report of the property title's history to the buyer, lender, or other interested parties.

Examples of Title Abstract

1. When purchasing a home, the buyer can request a title abstract to ensure the title is clear and there are no encumbrances or other claims to the property before purchasing it.
2. A lender may request a title abstract before approving a loan on a property to ensure there are no legal issues or judgments against the property that could impact the loan's repayment.
3. In some states, an abstract of title is required by law to be submitted to a judge before a court order to sell property is granted to ensure proper ownership and clear title.

Legal Terms Similar to Title Abstract

1. Title Search - A search for public records on a property to provide an overview of the property's title history, ownership, and liens.
2. Certificate of Title - A document that declares legal ownership of a property and lists any encumbrances or claims against the property.
3. Title Insurance - An insurance policy that protects against any loss due to defects in the title or liens or encumbrances on the property.