Escrow & Title
In Alaska, a 'chain of title' refers to:
AThe sequence of recorded ownership transfers from a common grantor to the present owner✓ Correct
BThe liens and encumbrances attached to the property
CThe easements and restrictions that run with the land
DThe legal description of the property boundaries
Explanation
The chain of title is the chronological sequence of recorded documents showing ownership history of a property from its original grant to the current owner. A break in the chain can create a cloud on title that must be resolved before a clear title can be conveyed.
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Key Terms to Know
Chain of Title
The sequential record of all transfers of ownership for a piece of property from the original patent holder to the present owner.
EasementA non-possessory right to use another person's land for a specific purpose.
EncumbranceAny claim, lien, charge, or liability attached to real property that affects its value or limits its use.
LienA financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
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