* 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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