The purpose of obtaining an abstract of title is to:

Obtaining an abstract of title serves the essential function of summarizing the history of the title to a property and highlighting any claims or encumbrances against it. This document consolidates information about previous owners, recorded liens, mortgages, and any legal claims that may affect the property. By doing so, it provides potential buyers or lenders with a comprehensive overview of the property's legal standing, allowing them to make informed decisions regarding a purchase or investment.

While a summary of property tax assessments or determining the market value of a property are important aspects of real estate transactions, they fall outside the scope of what an abstract of title is intended to accomplish. Furthermore, an abstract of title does not serve as a legal deed; rather, it acts as a record of the title history that is used to inform parties of any existing issues or rights associated with the property. This detailed history helps ensure that buyers are aware of any risks involved in acquiring the property.