Escrow & Title
An abstract of title in Hawaii is:
AA. A government-issued certificate guaranteeing ownership
BB. A condensed history of all recorded transactions affecting the title to a property✓ Correct
CC. A one-page summary of the purchase contract
DD. A title insurance policy
Explanation
An abstract of title is a chronological summary of all recorded documents affecting a property's title, used by an attorney to render a title opinion.
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Key Terms to Know
Abstract of Title
A condensed history of a property's title, summarizing all recorded documents and encumbrances affecting it from the earliest record to the present.
Title InsuranceInsurance protecting against financial loss from defects in a property's title that existed before closing but were unknown at the time of purchase.
DeedA written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
Chain of TitleThe sequential record of all transfers of ownership for a piece of property from the original patent holder to the present owner.
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