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What is an Abstract of Title?

When interested in a home or other type of property, it’s standard to tour the property at least once, get an inspection, and ensure your finances are in order. But most people forget about one of the most important aspects of a property—it’s legal history.
The property abstract, commonly known as the abstract of title, can be a powerful tool. The abstract of title lists all legal activities and documentation related to a specific property. These include but are not limited to mortgages, property deeds, tax sales, and litigations. It also lists all previous property owners as well as the duration and change of ownership.
What does Abstract of Title mean? When a contract of sale is authorized, your attorney examines an updated abstract which includes the recorded documentation related to the property. The abstract is a written, chronological history of the transactions that have occurred on the property. This is important as you do not want to purchase a property with liens tied to it or …

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