A report used as a basis for Title Insurance on the quality of the title which searches the public land records to determine the extent to which someone has legal interest in a parcel and also for encumbrances and liens or any other items of record that might affect ownership.

A Preliminary Title Report is offered referred to as a "prelim" in the finance world to save the time of having to say preliminary title report 25 times a day.

Bankapedia’s Take

Prelims are often times a rather fascinating creature, especially on older homes, as they show the chain of title since the home was built. If a prelim is missing a lien or someother encubrance that is later discovered, the borrower and bank are covered by the loans title insurance policy.