What term describes the official opinion of an attorney regarding a property's title condition?

The term that describes the official opinion of an attorney regarding a property's title condition is "Opinion of Title." This is a statement provided by a qualified attorney or title company that expresses the validity of the title, including any liens, encumbrances, or other potential issues that may affect ownership. The Opinion of Title is crucial because it provides information about the legal status of the property, helping buyers and lenders make informed decisions.

The other terms refer to different aspects of real estate ownership and transactions. A title report outlines the findings from a title search, summarizing the history of the property's ownership and any recorded claims against it, but it does not constitute an attorney's opinion. Title insurance provides protection against losses resulting from defects in the title, which may not have been uncovered in the title search or Opinion of Title. Lastly, a title deed is the legal document that conveys ownership of the property but does not address the validity of the title itself. Understanding these distinctions is key to navigating real estate transactions effectively.