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)
“Eternity is not ours by right; and, alone, unrequited sufferings here, form no title thereto.”
—Herman Melville (1819–1891)