Collier's New Encyclopedia (1921)/Abstract of Title
ABSTRACT OF TITLE, an evidence of ownership in the conveyance of property. It aims in abbreviated form to trace as far back as possible or desirable the history of the property, the names of its successive owners and ihe dates of various transfers. In England, it is customary for the vendor to furnish abstract together with the deed, and this is frequently done in the United States. The practice in this country, however, is becoming less and less common, because of the work done by title companies, who, having assured themselves of the validity and marketability of the title, guarantee the buyer against loss up to the amount of his purchase.