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What is an abstract of title?

On Behalf of | Feb 6, 2024 | Real Estate Law

If you are seeking a piece of Connecticut property to buy, there are many steps to the process. It can seem sometimes as if you will never get to your closing date.

That can make you want to cut out a step or two from the lengthy real estate buying process. But one step that you might not want to skip is running an abstract. These documents are the professional blueprints documenting each change of ownership of the property since it was built and/or bought for the first time.

Abstract versus title search

If you are buying an older property with many past owners, or one that has been encumbered by liens, it makes good business sense to update or run the abstract.

Title searches may only go back several decades, and while they may be sufficient from a lender’s perspective regarding title insurance, they might leave you vulnerable in a protracted legal battle with newly declared heirs or others.

While not every real estate purchase will require an abstract, you may want the peace of mind that only an abstract can provide to homebuyers here in Connecticut.

Which do you need for your property purchase?

Each real estate purchase has its own specific circumstances one must consider when making decisions like whether to go with a title search or an abstract. Since you want to avoid future legal problems at all costs, it makes good sense to get a solid legal opinion whenever you have any questions about your potential property purchase.