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A property abstract is a summary of the legal documents that chronicle transactions associated with a particular
parcel of land A cadastre or cadaster ( ) is a comprehensive recording of the real estate or real property's metes-and-bounds of a country.Jo Henssen, ''Basic Principles of the Main Cadastral Systems in the World,'/ref> Often it is represented graphically in ...
. Generally included are references to
deed A deed is a legal document that is signed and delivered, especially concerning the ownership of property or legal rights. Specifically, in common law, a deed is any legal instrument in writing which passes, affirms or confirms an interest, right ...
s,
mortgages A mortgage loan or simply mortgage (), in civil law jurisdictions known also as a hypothec loan, is a loan used either by purchasers of real property to raise funds to buy real estate, or by existing property owners to raise funds for any pur ...
, wills,
probate In common law jurisdictions, probate is the judicial process whereby a will is "proved" in a court of law and accepted as a valid public document that is the true last testament of the deceased; or whereby, in the absence of a legal will, the e ...
records, court
litigation A lawsuit is a proceeding by one or more parties (the plaintiff or claimant) against one or more parties (the defendant) in a civil court of law. The archaic term "suit in law" is found in only a small number of laws still in effect today. ...
s, and tax sales—basically, any legal document that affects the property. The abstract will show the names of all property owners, how long a particular holder owned it, and the price of the land when it was sold. Rarely will an abstract mention capital improvements to the property.


Abstract of title

An abstract of title is the condensed history of the
title A title is one or more words used before or after a person's name, in certain contexts. It may signify their generation, official position, military rank, professional or academic qualification, or nobility. In some languages, titles may be ins ...
to a particular parcel of real estate, consisting of a summary of the original grant and all subsequent conveyances and
encumbrance An encumbrance is a third party's right to, interest in, or legal liability on property that does not prohibit the property's owner from transferring title (but may diminish its value). Encumbrances can be classified in several ways. They may be f ...
s affecting the property and a certification by the abstractor that the history is complete and accurate. In the United States, the abstract of title furnishes the raw data for the preparation of a policy of
title insurance Title insurance is a form of indemnity insurance, predominantly found in the United States and Canada, that insures against financial loss from defects in title to real property and from the invalidity or unenforceability of mortgage loans. Unlik ...
for the parcel of land in question. In Iowa, commercial title insurance is outlawed, so title insurance policies are issued by Iowa Title Guaranty, an Iowa state government agency. An abstract of title should be distinguished from an ''opinion of title''. While an abstract states that all of the public record documents concerning the property in question are contained therein, an opinion states the professional judgment of the person giving the opinion as to the vesting of the title and other matters concerning the
chain of title A chain of title is the sequence of historical transfers of title to a property. It is a valuable tool to identify and document past owners of a property and serves as a property's historical ownership timeline. The "chain" runs from the present ...
. Many jurisdictions define the giving of an opinion of title as the practice of law, thus making it unlawful for a non-attorney to provide such an opinion.


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External links

* * Legal documents Real property law {{law-term-stub