According to TRELA, what must license holders advise buyers to do regarding the title abstract?

License holders are required to advise buyers to have the title abstract examined by an attorney for several reasons. A title abstract provides a summary of the legal status of a property, including any liens, encumbrances, and ownership history. These details are crucial for buyers to understand fully before proceeding with a purchase.

Having an attorney review the title abstract is important because attorneys are trained to interpret legal documents and can identify potential legal issues that may not be clear to a layperson. This expertise helps ensure that buyers are making informed decisions based on a complete understanding of any risks associated with the property's title. A title abstract can be complex, and misinterpreting its contents could lead to legal complications or financial loss for the buyer.

In contrast, advising buyers to review the title abstract themselves might not provide the level of assurance needed, as many buyers lack the necessary legal knowledge. Similarly, ignoring the title abstract based on trust or purchasing without review could expose buyers to unforeseen problems with the title that could jeopardize their ownership or create future financial liabilities. Therefore, the requirement to consult an attorney reflects a best practice in real estate transactions, emphasizing the importance of thorough legal review in protecting buyers' interests.