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:
“O reason, reason, abstract phantom of the waking state, I had already expelled you from my dreams, now I have reached a point where those dreams are about to become fused with apparent realities: now there is only room here for myself.”
—Louis Aragon (1897–1982)
“A familiar name cannot make a man less strange to me. It may be given to a savage who retains in secret his own wild title earned in the woods. We have a wild savage in us, and a savage name is perchance somewhere recorded as ours.”
—Henry David Thoreau (1817–1862)