Final answer:
A title report is a statement of opinion on the status of title to a property based on an examination of public records by a title company, licensed abstractor or attorney. It provides information about the ownership history and encumbrances related to the property's title.
Step-by-step explanation:
The best description of a statement of opinion prepared by a title company, licensed abstractor or attorney on the status of title to a parcel of real property, based on an examination of public records, is Title report. A title report provides information about the ownership history, liens, encumbrances, and other details related to the property's title. It is an essential document in real estate transactions to ensure the buyer receives clear and marketable title.