A condensed history, generally taken from public records or documents, of the ownership of a piece of real property.
The abstract of title lists any and all of the legal actions that have been performed or carried out in conjunction with a property, in this case referring to timeshare resort properties.
This is used to determine whether or not there is any past or existing claim on a timeshare resort property. The abstract of title encompasses a large amount of changes to a title of ownership, including transfers, grants, wills and conveyances, liens and encumbrances. It also provides any evidence or proof of satisfaction or other facts or information pertinent to a timeshare resort property.
Any potential owners have the ability to request an abstract of title to view all previously stated information, in order for them to be able to view past history and standing of the property title. This is a benefit that many potential owners should take advantage of, as it provides a more complete and rounded insight into the property they are interested in purchasing.
If you have any additional questions regarding Abstract of Title and how it benefits potential timeshare property owners, feel free to contact us to speak with a licensed agent.