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.
Full Definition
An abstract of title is a summary of the public records affecting a particular parcel of real property, compiled in chronological order. It includes all recorded deeds, mortgages, liens, easements, court judgments, tax records, and other documents that affect the title from the earliest recorded history to the present. An attorney reviews the abstract and issues a title opinion (also called an attorney's certificate of title) stating whether the title is marketable. The abstract does not guarantee clear title — if the attorney's opinion is wrong, the property owner's recourse is against the attorney. An abstract is most commonly used in states that rely on the attorney opinion system rather than title insurance for closing.
Real-World Example
In a state using the abstract-attorney opinion system, the seller provides an abstract of title updated through the closing date. The buyer's attorney reviews it and certifies that the seller has marketable title.
How Abstract of Title Appears on the Real Estate Exam
Common question types, tested concepts, and what to watch out for
The abstract summarizes title history; an attorney then gives an opinion based on it. Contrast with title insurance, which insures against title defects instead of (or in addition to) using an abstract.
Related Terms
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