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Joshua H. Morris, a conveyancer in Philadelphia, and several colleagues met on 28 March 1876 to incorporate the first title insurance company to address the issue.The new firm, they stated, would "insure the purchasers of real estate and mortgages against losses from defective titles, liens and encumbrances," and that "through these facilities, transfer of real estate and real estate ...
An abstract of title is the condensed history of the title to a particular parcel of real estate, consisting of a summary of the original grant and all subsequent conveyances and encumbrances affecting the property and a certification by the abstractor that the history is complete and accurate.
In real estate business and law, a title search or property title search is the process of examining public records and retrieving documents on the history of a piece of real property to determine and confirm property's legal ownership, and find out what claims or liens are on the property. [1]
The patent serves as the supreme title to the land, as it confirms that all evidence of title existing before its issuance date has been reviewed by the sovereign authority under which it was sealed and is therefore irrefutable. Consequently, the land patent legally becomes the title to the land described within its boundaries.
LandAmerica Financial Group, Inc. was the third largest title insurance group in the US. It was incorporated in 1991 as Lawyers Title Corporation, and renamed LandAmerica after Lawyers Title acquired Commonwealth Land Title Insurance Company and Transnation Title Insurance Company in 1998.
The Land Registry has been dealing with the registration of all transactions (purchase, sale, mortgage, remortgage and other burdens) concerning registered land since 1892, and issued land certificates which are a state guarantee of the registered owner's good title up to 1 January 2007. Land Certificates have been abolished by virtue of ...
When operating as Gracy Title, a subsidiary of parent company Stewart Law and Land Title Company since 2008, [5] the company was collectively recognized by Forbes as the nation's 4th most admirable and trustworthy companies. [6] In July 2017 Gracy Title, a Stewart Company was officially renamed to Stewart Title of Austin.
Proponents argue that providing formal titles increases security of land tenure, supports development of markets in land, and allows better access to credit (using land titles as collateral). Peruvian economist Hernando de Soto Polar is the most well-known advocate of the approach, but it has a long history. [ 2 ]