An abstract of title—also known as a title examination, examination of title, title abstract, or title abstraction—is the legal history or chronology of a certain piece of real property. For example, an abstract of title includes a history of all the property’s owners, the period during which each owner held the title to the property, and all liens and encumbrances that affect title to the property.
An abstract of title is usually prepared for a mortgagee (bank or lender) or a purchaser of the property and is sometimes used to market the property to a potential buyer. An abstract of title is generally designed to identify and eliminate any clouds (claims) on the title. In contrast, a title report is merely used to facilitate the purchase of title insurance and is sometimes not as complete or reliable as an abstract of title.
In Kansas, an abstract of title is a comprehensive document that outlines the history of a piece of real estate. It includes a detailed account of the property's ownership, the duration of each owner's possession, and any liens or encumbrances that may affect the property's title. The preparation of an abstract of title is typically for the benefit of a mortgagee or a potential purchaser to ensure that the title is clear of any defects or 'clouds' that could affect the transfer or financing of the property. Kansas law requires that any defects in the title be disclosed in the abstract, and the document is often used to clear up any issues before a sale or loan can be finalized. It is more thorough than a title report, which is primarily used for obtaining title insurance and may not provide as complete a history of the property's title.