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:
“Truth is that concordance of an abstract statement with the ideal limit towards which endless investigation would tend to bring scientific belief, which concordance the abstract statement may possess by virtue of the confession of its inaccuracy and one-sidedness, and this confession is an essential ingredient of truth.”
—Charles Sanders Peirce (1839–1914)
“There is no luck in literary reputation. They who make up the final verdict upon every book are not the partial and noisy readers of the hour when it appears; but a court as of angels, a public not to be bribed, not to be entreated, and not to be overawed, decides upon every man’s title to fame. Only those books come down which deserve to last.”
—Ralph Waldo Emerson (1803–1882)