Examination of Title
Definition
- A review of public records and title abstracts to determine the chain of ownership of a property.
Synonyms
investigate, study, research, survey, evaluation of title, scrutinize, audit
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.
- Chain of Title — Definition,
- Legal records that trace ownership of a property from the most recent owner to the original owner.
- Clear Title — Definition,
- Title not burdened by liens or legal questions.
- Cloud on Title — Definition,
- A claim on title to property that could impair the ability to transfer ownership.
- Title Report — Definition,
- A report that reveals any competing claims, liens, or other problems relating to a property. A title report is required before title insurance will be issued. Also known as a "Preliminary Title Report" or "Prelim."
- 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.
- 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.
