Escrow & Title
In Virginia, which statement about abstract of title is correct?
AIt is the same as a title insurance commitment
BIt is a condensed history of all recorded documents affecting the property's title✓ Correct
CIt certifies title is free from defects
DIt replaces title insurance
Explanation
An abstract of title is a condensed summary of all recorded documents (deeds, mortgages, liens, judgments) in the chain of title. An attorney or title company reviews the abstract to provide a title opinion.
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