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:
“For although memories, of a season, for example,
Melt into a single snapshot, one cannot guard, treasure
That stalled moment. It too is flowing, fleeting;
It is a picture of flowing, scenery, though living, mortal,
Over which an abstract action is laid out in blunt,
Harsh strokes.”
—John Ashbery (b. 1927)
“It was his title that killed me. I had never spoken to a lord before. Oh, me! what a fool, what a beast I have been!”
—Anthony Trollope (1815–1882)