A property abstract is a collection of legal documents which chronicles activities associated with a particular parcel of land. Generally included are references to deeds, mortgages, wills, probate records, court litigations and tax sales. Basically, any essential legal documents that affect the property. The abstract will also show the names of all property owners and how long a particular holder owned it for as well as showing the price the land was exchanged for when it changed owners. Rarely an abstract will mention capital improvements to the property. Property abstracts are considered good starting places for research on historical buildings.
Other articles related to "property abstract, abstract, property":
... An abstract of title is the condensed history of title to a particular parcel of real estate, consisting of a summary of the original grant and all subsequent conveyances and encumbrances affecting the property ... In the United States, the abstract of title furnishes the raw data for the preparation of a policy of title insurance for the parcel of land in question, except for in Iowa, where a Title Guaranty policy is issued ... An abstract of title should be distinguished from an opinion of title ...
Famous quotes containing the words abstract and/or property:
“When we run over libraries persuaded of these principles, what havoc must we make? If we take in our hand any volume; of divinity or school metaphysics, for instance; let us ask, Does it contain any abstract reasoning concerning quantity or number? No. Does it contain any experimental reasoning concerning matter of fact and existence? No. Commit it then to the flames; for it can contain nothing but sophistry and illusion.”
—David Hume (17111776)
“Lets call something a rigid designator if in every possible world it designates the same object, a non-rigid or accidental designator if that is not the case. Of course we dont require that the objects exist in all possible worlds.... When we think of a property as essential to an object we usually mean that it is true of that object in any case where it would have existed. A rigid designator of a necessary existent can be called strongly rigid.”
—Saul Kripke (b. 1940)