What term refers to a history of property transactions, including transfers and liens?

Study for the Maneuver Captain's Career Course Exam. Prepare with engaging quizzes, detailed explanations, and practice questions. Ensure your success and get ready for your MCCC exam!

The term that refers to a history of property transactions, including transfers and liens, is known as an abstract of title. An abstract of title is a comprehensive summary of the recorded history of an asset, typically real estate, providing a detailed account that includes all past owners (transfers), any liens against the property, and other legal encumbrances that have been placed on the property over time. This document is essential as it ensures that potential buyers can evaluate the legitimacy of ownership before purchasing a property, helping to reveal any issues that could affect their ownership rights.

In contrast, a property deed is a legal document that transfers ownership of property from one person to another. While it is crucial in establishing ownership, it does not provide the entire transaction history. Title history could be confused with the abstract of title, but it is a more general term and may not encompass all aspects, including specific liens and encumbrances in detail. A property report, often used in real estate transactions, may summarize property details but lacks the comprehensive historical context that the abstract of title provides.

Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy