Escrow & Title
What is a 'chain of title' in Illinois real estate?
AA list of all liens and encumbrances on a property
BThe chronological sequence of historical property ownership from the original patent to the present owner✓ Correct
CThe current owner's chain of proof of funds for the purchase
DA record of all property tax payments made on a parcel
Explanation
The chain of title is the chronological sequence of recorded instruments (deeds, court orders, inheritance documents) showing the history of ownership of a property from its original grant (typically from the government) to the present owner. A complete and unbroken chain of title is essential for establishing marketable title. Title examiners trace the chain to identify any gaps, defects, or outstanding claims that could affect ownership.
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