what is an abstract of title

An abstract of title is a written record that details a propertys complete legal history from its first record of ownership to the present day. It is a summary of all the important actions that are relevant to the title, such as filings of liens and encumbrances, any conveyances, transfers, assignments, and other facts relevant to the claimants title. An abstract of title is critical for those looking to buy a property, whether the purchase be for residential or investment purposes, because it shows that the property has a clear title. A clear title verifies that the property is free of any liens or claims. The abstract of title records the transaction history of the property and provides an official provenance. It catalogs all legal activities associated with the property, including deeds, mortgages, litigations, tax sales, title transfers, and encumbrances. An abstract of title is different from a title search, which usually only goes back a decade or so, while the abstract of title generally lays out the propertys entire history from the point that it was first recorded as an owned parcel of land. Real estate experts generally advise homebuyers to request an abstract of title for any home theyre considering purchasing.