What document is prepared by a title attorney outlining the chain of title and providing an opinion on the marketability of a seller's title?

The document that is prepared by a title attorney outlining the chain of title and providing an opinion on the marketability of a seller's title is indeed known as a certificate of title. This certificate serves as a legal document that confirms the ownership of a property and indicates whether the title is free and clear of any liens or encumbrances. The title attorney conducts a thorough examination of public records to trace the history of the title, and based on this examination, they provide their professional opinion regarding its marketability.

This process is critical in real estate transactions, as it assures buyers that they are purchasing a property with a clear title, thus minimizing risks associated with title defects. The certificate of title essentially acts as a guarantee of ownership, making it a vital component in the closing process.

In contrast, other options, such as a title report and an abstract of title, also deal with title history but may not include a formal opinion on marketability from a legal perspective, which is the distinguishing factor of the certificate of title. A title insurance policy, while important, serves as a form of insurance against potential future claims against the title, rather than providing a direct analysis of the title’s marketability at the time of sale.