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:
“When needs and means become abstract in quality, abstraction is also a character of the reciprocal relation of individuals to one another. This abstract character, universality, is the character of being recognized and is the moment which makes concrete, i.e. social, the isolated and abstract needs and their ways and means of satisfaction.”
—Georg Wilhelm Friedrich Hegel (1770–1831)
“All his works might well enough be embraced under the title of one of them, a good specimen brick, “On Heroes, Hero-Worship, and the Heroic in History.” Of this department he is the Chief Professor in the World’s University, and even leaves Plutarch behind.”
—Henry David Thoreau (1817–1862)