What does an abstract of title provide?

An abstract of title provides a brief summary of the activities affecting ownership of a property. It is a condensed version of the property’s title history, summarizing key elements such as previous owners, conveyances, liens, and encumbrances. This information helps to establish a clear chain of title and can highlight any potential issues or claims on the property that need to be resolved before a transaction can proceed.

In the context of real estate, this summary is crucial for buyers, sellers, and real estate professionals, as it allows them to understand the legal standing of the property and any risks associated with its title. While other options mention details that are important in real estate transactions, they do not accurately describe the function of an abstract of title, which is focused on summarizing ownership history rather than providing a comprehensive account or an evaluation of the property's attributes or market value.