What is a notice of title?

A notice of title serves as evidence of ownership of real property, which is why this choice is the correct answer. In the context of real estate, having valid documentation that proves ownership is crucial for property transactions, as it establishes the rights of the owner and affirms that they hold clear title to the property. This ensures that there are no disputes over property ownership and is an essential part of the conveyancing process.

While the other options may touch upon aspects relevant to real estate transactions — such as confirming details of a transaction, indicating property conditions, or summarizing property taxes — they do not address ownership directly. Therefore, they do not fulfill the specific role that a notice of title plays in confirming who owns the property. The concept of title is foundational to real estate law, as it not only reflects ownership but can also impact matters of inheritance, liens, and legal claims.