Real Estate Law: Understanding Opinion of Title

What does an attorney provide based on a property's abstract of title?

A. Opinion of title
B. Survey of title
C. Title plan
D. Official title

Answer:

An attorney provides an Opinion of Title, which is a professional legal assessment of the property's abstract of title. This includes checking for claims or issues that might impede the clear ownership transfer. Option A is correct.

An attorney provides an Opinion of Title, which is based on a property's abstract of title. The Opinion of Title is a legal document prepared by an attorney after reviewing the abstract of title, which is a summary of the legal and financial documents affecting the ownership of a piece of property. The attorney analyzes these documents to ensure that there are no legal impediments that would prevent a clear transfer of the title to a new owner. This process includes checking for any unresolved claims, liens, or encumbrances that might affect the property.

A Survey of Title typically references a physical survey of property boundaries and is not the same as the legal opinion. A Title Plan and an Official Title usually refer to specific documents relating to the registration of title in the context of a government land registry.