Legal Issues - Title Closing & Costs Flashcards
1
Q
Title is evidence of the …
A
right to own property.
2
Q
Chain of title refers to the…
A
sequence of historical transfers of title to a property.
It runs from the present owner all the way back to the original owner of the property.
3
Q
An abstract of title is…
A
a condensed history of title.
It is a summary of all links in the chain of title.
4
Q
The seller’s attorney uses the old deed…
A
to prepare a new deed for the closing.
