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Blighted land in Philadelphia. Land banking is the practice of aggregating parcels of land for future sale or development.. While in many countries land banking may refer to various private real estate investment schemes, in the United States it refers to the establishment of quasi-governmental county or municipal authorities tasked with managing an inventory of surplus land.
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 ...
Land Title Building data from the Philadelphia Architects and Buildings (PAB) project of the Athenaeum of Philadelphia Historic American Buildings Survey (HABS) No. PA-1514, " Land Title Bank and Trust Company, 100–118 South Broad Street, Philadelphia, Philadelphia County, PA ", 2 photos, 1 data page, 1 photo caption page
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The bank was founded in Philadelphia on September 8, 1803, as The Philadelphia Bank. George Clymer was the bank's first president. Later, the bank became known as Philadelphia National Bank, or PNB. During the early years of the United States, Philadelphia developed as the banking center of the country.
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On September 28, 2009, the Authority found the Science Center to be in default of an agreement about the two parcels of land, currently used for parking. The Science Center contended in its lawsuit that current economic conditions had delayed redevelopment, saying that the apparent default was caused by an unforeseeable cause, and therefore ...