Escrow & Title
The chain of title for an Alaska property refers to:
AThe list of all mortgage lenders who have held the note
BThe chronological sequence of historical ownership transfers recorded in public records✓ Correct
CThe legal description of the property boundaries
DThe list of all easements affecting the property
Explanation
Chain of title is the recorded history of all ownership transfers for a property, from the original grant through the present owner. A clear, unbroken chain is required for marketable title.
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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.
Abstract of TitleA condensed history of a property's title, summarizing all recorded documents and encumbrances affecting it from the earliest record to the present.
DeedA written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
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