What are the two primary forms of evidence used to clear a property title?

The two primary forms of evidence used to clear a property title are the abstract of title and a title insurance policy. The abstract of title is a comprehensive summary of all the records concerning a particular property, including its ownership history, liens, judgments, and any encumbrances that may affect title. This document essentially traces the lineage of ownership and identifies any potential issues that could affect the marketability or legality of the title.

On the other hand, a title insurance policy provides protection to the buyer and the lender against any future claims or disputes regarding the ownership of the property that were not identified in the abstract of title. It covers issues such as missed liens, forgeries, or errors in the public record after the policy is issued. Together, the abstract of title and title insurance serve as critical components in ensuring that a property's title is clear and marketable, thereby providing security to buyers and lenders in real estate transactions.

In contrast, written documentation and verbal agreements do not serve the same legal and comprehensive functions as the abstract of title and title insurance. Similarly, although survey reports and mortgage documentation play significant roles in real estate transactions, they do not serve the purpose of clearing title in the same direct manner as the abstract and insurance do.