for Title Examination:
A title examination of the abstract of
the title and/or other title evidence.
An abstract of title is a collection of public records relating to
the ownership of a parcel of real estate. Your closing agent will
examine the applicable title information to determine who owns the
land, and if there are defects or claims against the ownership,
and takes any action needed to secure good record title.
While this may seem to be a simple operation, it is not. It
requires interpreting numerous deeds, legal descriptions,
mortgages, Wills, court decrees, and other instruments;
considering the sequence of times of transactions and events
affecting the title; and applying laws in court decisions to the
various situations disclosed in the applicable title information.
The examination of title requires a thorough knowledge of many
phases of law. An examination of applicable title information may
involve evaluating a variety of problems such as the validity of
divorces, the effectiveness of foreclosures, the scope of
restrictions, the presence of federal and state tax liens and the
effect of old claims against the land.