Title policy, abstracts, commitments, opinion of title

Question 1

What is an abstract of title?

Answer 1

An abstract of title is a complete history of the title of a piece of property that includes deeds, foreclosures, wills, marriages, deaths, and anything else that may have ever been recorded about a property.

Question 2

How does an individual acquire an abstract of title?

Answer 2

By asking an attorney or abstractor to do a title search.

Question 3

What is an attorney’s opinion of title?

Answer 3

An attorney’s opinion of the state of the title and its ability to be transferred.

Question 4

What is a chain of title?

Answer 4

A chain of title is a history or list of all owners since the title of the property was first transferred from the government to an individual.

Question 5

What is a “cloud on the title”?

Answer 5

A cloud on the title happens when there’s a missing link or break in the chain of past owners.