Escrow & Title
A chain of title in Maryland refers to:
AThe list of all current liens on the property
BThe chronological sequence of ownership transfers recorded in the land records✓ Correct
CThe property's physical boundary description
DThe current outstanding mortgage balance
Explanation
The chain of title is the recorded history of successive owners and transfers for a parcel of real property.
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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.
LienA financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
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.
Short SaleA sale of real property where the sale proceeds are less than the outstanding mortgage balance, requiring lender approval.
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