A "brief of title" is a legal document or written summary that outlines the ownership history and details of a specific property or real estate. It serves as a concise report, summarizing the key aspects of the property's title, including the chain of ownership, any liens, encumbrances, or claims, and other relevant legal information.
The brief of title typically includes information obtained from public land records, such as deeds, mortgages, judgments, tax liens, easements, or any other legal documents affecting the property. This document is essential for potential buyers, lenders, or attorneys involved in real estate transactions to assess the property's title and verify its legal standing.
The purpose of a brief of title is to provide a comprehensive overview of the property's ownership history, allowing interested parties to review and evaluate any existing or potential issues that could impact the property's marketability or rights of ownership. By examining this document, buyers can ensure a clear and marketable title before finalizing a real estate transaction, while lenders can assess the risks associated with providing a mortgage loan on the property.
Typically prepared by a title company or real estate attorney, a brief of title is an essential tool in assessing the legal status and ownership of a property, providing crucial information necessary for a successful real estate transaction.
