What is an abstract of title?

An abstract of title is indeed a summary of historical records relating to a property. It organizes and presents information about the ownership and interests in the property over time, including past deeds, mortgages, liens, and any other relevant legal documents. This summary allows interested parties, such as buyers or lenders, to quickly understand the history of the property, any claims against it, and the chain of ownership, making it a crucial element in real estate transactions.

This process helps ensure that there are no hidden issues with the title that could affect ownership rights. By summarizing the historical records, an abstract provides vital information that contributes to verifying the legitimacy of a title and ensuring a clear conveyance of property rights.