LegalFix

Real property

abstract of title

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.



State Statutes for the State of Texas

CHAPTER 2701 - GENERAL PROVISIONS

(c) An abstract of title prepared from an abstract plant for a chain of title to real property described in the abstract of title is not title insurance, a commitment for title insurance, or any other title

CHAPTER 862 - FIRE AND MARINE INSURANCE COMPANIES

and, if the company is organized under the laws of this state, the annual statement must include an abstract of the title to that real property;

CHAPTER 2551 - TITLE INSURERS

(1) to compile and own or lease, or to acquire and own or lease, records or abstracts of title to real property or interests in real property in this state or other jurisdictions, to insure titles to that

Federal Statutes

§ 277d–3. Authorization for appropriations; activities for which available; contracts for excess amounts

passenger) vehicles and aircraft and equipment; acquisition by donation, purchase, or condemnation, of real and personal property, including expenses of abstracts, certificates of title, and recording fees