Chain of Title
Definition
- Legal records that track the ownership of a property from the most recent owner to the original owner.
Synonyms
records of title, history of title, list of owners
Related Terms and Acronyms
- Abstract of Title (ab) — Abbreviation,
- A written history of all the transactions that bear on the title to a specific piece of land. An abstract of title covers the time from when the property was first sold to the present.
➥ AB is a common abbreviation for Abstract of Title when used in property listings and real estate classifieds. - Certificate of Title — Definition,
- A written document stating that the title to a piece of property is legally vested in the present owner.
- Deed (D) — Acronym, Very Important,
- A document that provides title to property and is filed with a country recorder.
➥ Used to transfer ownership of assets, often land or automobiles. - Examination of Title — Definition,
- A review of public records and title abstracts to determine the chain of ownership of a property.
- Land Title — Definition,
- The legal document conveying title to a property.
- Title Insurance — Definition,
- Insurance that covers title defects and ownership challenges on a property.
- Title Search — Definition,
- A check of public records to make sure that the owner of real property has the right to transfer ownership. A title search is designed to spot gaps in the chain of title, liens, problems with the legal description of the property, judgements against the owner, and the like.
- Torrens System — Definition,
- A system that is provided by Provincial law for the registration of land titles. The system records the state of the title, including ownership and encumbrances without the necessity of an additional search of the public records. Also known as the "Land Titles System."
- Transfer of Title (TOT) — Acronym,
- A document signed by the seller and purchaser transferring ownership, at which time the document is registered against the property.
