Business Glossary

summary of title to real property, listing current owners, liens, judicial proceedings, satisfaction of claims, and other information affecting title. A title abstract is a necessary step in obtaining title insurance .

short history of title to land, noting all conveyances , transfers, grants , wills and judicial proceedings, and all encumbrances and liens , together with evidence of satisfaction and any other facts affecting title.

a historical summary of all of the recorded instruments and proceedings that affect the title of property.

Example: A title insurance company will have an attorney prepare anabstract of title prior to granting a title insurance policy.

Example: An abstract company will compile an abstract of title with copies of all recorded instruments affecting title to a specific tract.