*  The abstract is a detailed summary of the chain of past owners that brought the property into the possession of the current Seller
*  The abstract will also reveal any open mortgages and liens that will need to be paid off and later released upon transfer of the property to the new Buyer

*  Once prepared, the title abstract is examined to ensure that the Seller has the right to transfer the property and that the buyer is receiving all rights that he or she

*  This includes, among other things, examining any outstanding judgments

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