Who Completes an Abstract of Title?
An abstract of title is a document that summarizes the ownership history of a piece of property. It is typically prepared by a title company or an attorney. The abstract will include information about all of the deeds, mortgages, and other liens that have been recorded against the property. This information can be used to determine who owns the property and whether there are any outstanding claims against it.
Who Needs an Abstract of Title?
An abstract of title is typically required when you are buying or selling a property. The lender will want to see an abstract of title to ensure that you have clear title to the property. You may also need an abstract of title if you are refinancing your mortgage or if you are planning to make any major improvements to the property.
How to Get an Abstract of Title
The most common way to get an abstract of title is to order one from a title company. Title companies specialize in providing title searches and abstracts. They will typically charge a fee for their services. You can also get an abstract of title from an attorney. However, attorneys typically charge more for their services than title companies.
What to Look for in an Abstract of Title
When you are reviewing an abstract of title, you should look for the following information:
- The names of all of the owners of the property
- The dates of all of the deeds, mortgages, and other liens that have been recorded against the property
- The amounts of all of the mortgages and other liens that are currently outstanding
If you have any questions about the abstract of title, you should contact a title company or an attorney for assistance.
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