Escrow & Title
What is an 'abstract of title' in Idaho?
AA summary of the property's physical characteristics
BA comprehensive summary of all recorded documents affecting title to a specific property✓ Correct
CThe buyer's offer summary
DA title insurance policy summary
Explanation
An abstract of title is a historical summary of all recorded documents (deeds, mortgages, liens, judgments, easements) affecting title to a specific property, prepared by a title or abstracting company.
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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).
EasementA non-possessory right to use another person's land for a specific purpose.
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