Escrow & Title
Under Wisconsin law, the 'chain of title' refers to:
AThe ownership of the lien on the property
BThe sequence of historical transfers of ownership from the original grant to the present owner✓ Correct
CThe mortgage history of the property
DThe chain of physical improvements on the property
Explanation
The chain of title is the sequential history of all recorded ownership transfers from the original patent or grant through to the current owner.
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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.
DeedA written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
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