Final answer:
An abstract of title is a comprehensive summary of all recorded legal documents and events affecting a particular property, providing a detailed history that is vital during the property's transfer.
Step-by-step explanation:
An abstract of title is: c) a summary of all recorded instruments pertaining to a given property. This includes a history of all transfers, encumbrances, and legal actions that affect the property. The abstract of title provides a condensed history that includes the original deed, any mortgages, the presence and impact of liens, and legal disputes or easements. Essentially, it is a comprehensive and detailed list of successive owners, legal documents, and recorded events, which serves to clarify the chain of ownership. It is valuable during the sale of a property, as in the example where farmers sell their land for development, to help ensure an accurate and clear title is transferred.
An abstract of title is not just a volume containing the original deed, mortgage, etc., nor is it the same as a title insurance policy which offers protection from financial losses due to title defects. It is, however, distinct from an annotated bibliography or a simple summary of sources, which serves a different purpose in academic research, providing evaluative and critical analysis of the sources cited.