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:
“The more abstract the truth you wish to teach, the more you need to seduce the senses to it.”
—Friedrich Nietzsche (1844–1900)
“Now that the steam engine rules the world, a title is an absurdity, still I am all dressed up in this title. It will crush me if I do not support it. The title attracts attention to myself.”
—Stendhal [Marie Henri Beyle] (1783–1842)