Escrow & Title
In West Virginia, the term 'abstract of title' refers to:
AA summary of all recorded documents affecting title to a property✓ Correct
BThe title insurance policy issued by the title company
CThe legal description of the property
DThe survey of the property's boundaries
Explanation
An abstract of title is a condensed history or summary of all recorded instruments and proceedings affecting title to a property, compiled from public records. An attorney or title examiner reviews the abstract 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).
EasementA non-possessory right to use another person's land for a specific purpose.
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