What term describes an abbreviated history of a property, including information on transfers, liens, and encumbrances?

The correct answer is the abstract of title. This term refers specifically to a summarized history of a property that includes details about all past ownership transfers, liens placed on the property, and any other encumbrances that may affect its title. The abstract serves as a concise record that highlights essential legal information regarding the property, which is vital for potential buyers and their legal advisors during the purchasing process.

By providing an overview of the property’s legal status, the abstract of title helps to clarify any issues or claims that may arise, giving buyers confidence in the validity of their future investment. It ensures that buyers are aware of any potential complications that might affect their ownership rights.

In contrast, a property deed is a legal document that actually transfers ownership of the property from one party to another and does not provide a summary of prior ownership. A title report is generated by a title company and assesses the current state of the property’s title but may not condense the history in the same way an abstract does. A land survey focuses on the physical boundaries and dimensions of the property, which is unrelated to the property’s legal history.