Abstract of Title
The Abstract of Title, used in real estate transactions, is the more common form of abstract. An abstract of title lists all the owners of a piece of land, a house, or a building before it came into possession of the present owner. The abstract also records all deeds, wills, mortgages, and other documents that affect ownership of the property. An abstract describes a chain of transfers from owner to owner and any agreements by former owners that are binding on later owners.
Read more about this topic: Abstract (law)
Famous quotes containing the words abstract and/or title:
“Delight at having understood a very abstract and obscure system leads most people to believe in the truth of what it demonstrates.”
—G.C. (Georg Christoph)
“In Goya’s greatest scenes we seem to see
the people of the world
exactly at the moment when
they first attained the title of
‘suffering humanity’”
—Lawrence Ferlinghetti (b. 1919)