{"id":393,"date":"2010-07-12T16:10:55","date_gmt":"2010-07-12T16:10:55","guid":{"rendered":"http:\/\/blog.topbev.com\/?p=393"},"modified":"2010-07-12T16:10:56","modified_gmt":"2010-07-12T16:10:56","slug":"the-title-abstract-as-a-family-tree-for-the-home-your-client-is-buying-help-your-clients-learn-the-rest-of-the-story","status":"publish","type":"post","link":"https:\/\/blog.topbev.com\/?p=393","title":{"rendered":"The Title Abstract as a “Family Tree” for the Home your Client is Buying–Help your clients learn the “Rest of the Story”"},"content":{"rendered":"

In Massachusetts, where I practice real estate law, the closing agent (almost always an attorney) requests a title abstract, <\/strong>which provides an at least 50 year history of the property in question. The Abstract,\u00a0among other things, will show a “chain of title” which indicates dates and purchase price paid for the various prior deeds. Since the goal of the abstract is to establish that there are currently no “encumbrances” on the property, all mortgages and other consensual liens will be checked out, as well as bankruptcies and foreclosures. I like the process to knitting a sweater. If there is one dropped stitch (i.e problem\u00a0in closing\u00a0out all prior encumbrances) the abstract falls apart, and that issue needs to be dealt with.<\/p>\n

Parenthetically, in this day and age, the “dropped stitch” is generally a missing mortgage discharge, where a prior mortgage has been paid off, but the proper evidence of same has not been recorded, so that the “record title” still shows the mortgage as being outstanding. Depending on the circumstances, a missing discharge may delay, or even more importantly, \u00a0prevent, a pending sale transaction. Having a ready ability to “play over” this imperfection is one of the most important reasons why I always suggest my clients obtain an Owner’s Policy of Title Insurance. With that document in hand, the Title Insurance Company will generally assume the burden of providing the missing discharge, post closing, and the transaction can be completed<\/strong>.<\/p>\n

Setting aside the legal aspects of the Title Abstract, I have another “marketing” suggestion for you Buyer’s Agents who want to highlight the unique aspects of the service you are rendering to your Buyer. Request the actual Title Abstract from the title agent furnishing title certification.<\/strong>\u00a0 This little puppy is\u00a0crammed with useful information that your Buyer will enjoy researching. It will show who owned the property and for how long. It will show Probates and deaths of owners. It will show how much the property sold for in 1968, and the price fluctuations throughout the period\u00a0 of the Abstract. It may also show divorces and other instruments and\u00a0agreements affecting the property.<\/p>\n

In this age of Google, your Buyer will have a field day looking up the prior owners, and determining whether any of them are famous,or at least noteworthy. From the 50 year Abstract, your Buyer can make a Registry or Town Hall visit and find a way to trace the house’s longer than 50 year history set forth in the Abstract. I have found that local Registry officials are more than happy to direct constituents to the old document books either on site or in an off-site archive. Lots of cocktail conversation, and more, is sitting right there in the Registry.<\/p>\n

For my important clients, I have done this work, myself, and presented my clients with a house “family tree” at the closing. It is just one of the little things I try to do to differentiate myself from other Massachusetts conveyancers doing, essentially, the same work I am doing. This might be an\u00a0interesting “add-on” for you Buyer’s Agents, as well<\/p>\n","protected":false},"excerpt":{"rendered":"

In Massachusetts, where I practice real estate law, the closing agent (almost always an attorney) requests a title abstract, which provides an at least 50 year history of the property in question. The Abstract,\u00a0among other things, will show a “chain of title” which indicates dates and purchase price paid for the various prior deeds. Since … Continue reading The Title Abstract as a “Family Tree” for the Home your Client is Buying–Help your clients learn the “Rest of the Story”<\/span> →<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":""},"categories":[47,41],"tags":[256,255],"class_list":["post-393","post","type-post","status-publish","format-standard","hentry","category-marketing","category-title","tag-marketing-oportunity","tag-title-abstract-property-research"],"jetpack_featured_media_url":"","jetpack-related-posts":[{"id":37463,"url":"https:\/\/blog.topbev.com\/?p=37463","url_meta":{"origin":393,"position":0},"title":"What Is Owner\u2019s Title Insurance and Why Should I Buy It?","date":"November 7, 2018","format":false,"excerpt":"These are both very good questions. Let's start with the first question and then the answer to the second question will be obvious. What is Owner's Title Insurance? It is Insurance that insures you against losses you may suffer as a result of issues affecting the title to your property.\u2026","rel":"","context":"In "closing"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":329,"url":"https:\/\/blog.topbev.com\/?p=329","url_meta":{"origin":393,"position":1},"title":"Representing an Out of State Client in a Massachusetts Real Estate Transaction–The “Massachusetts Rules” Can be Difficult to Comprehend","date":"July 7, 2010","format":false,"excerpt":"When I attended a national law school almost 45 years ago, we would learn two sets of rules in almost every discipline--the law for 49 states and then the \"Massachusetts rules\". Today, after practicing law in Massachusetts as a real estate lawyer, I must admit to each of you that\u2026","rel":"","context":"In "closing"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":300,"url":"https:\/\/blog.topbev.com\/?p=300","url_meta":{"origin":393,"position":2},"title":"The Ins and Outs of Easements–A Primer for Non-Lawyers","date":"July 7, 2010","format":false,"excerpt":"Like everyone else's business, my business as a Massachusetts title lawyer runs in spurts. Lately, i have been involved in three situations concerning Easements. In one situation, a client of mine is buying a guest house while the Seller is retaining the major home. All the systems, however, run through\u2026","rel":"","context":"In \"easements\"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":926,"url":"https:\/\/blog.topbev.com\/?p=926","url_meta":{"origin":393,"position":3},"title":"The Ins and Out of Easements\u2014A Primer for the Non-Lawyer.","date":"March 12, 2014","format":false,"excerpt":"A client of mine is buying a guest house while the Seller is retaining the major home. All the systems, however, run through the major home.","rel":"","context":"In "title"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":361,"url":"https:\/\/blog.topbev.com\/?p=361","url_meta":{"origin":393,"position":4},"title":"Massachusetts Buyer Beware!!!! If there is a foreclosure in your back title, you may not be getting what you are expecting","date":"July 9, 2010","format":false,"excerpt":"Here is a tale of woe that is real, and may be repeated many times in the future for Massachusetts real estate scenarios. Well before I started representing my client, he purchased a home which had a recent foreclosure in its title. My client, now attempting to do a refinancing\u2026","rel":"","context":"In "Short Sales & Foreclosures"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":224,"url":"https:\/\/blog.topbev.com\/?p=224","url_meta":{"origin":393,"position":5},"title":"Helping your customer purchase an REO–Some important observations which may help you walk through this minefield.","date":"June 29, 2010","format":false,"excerpt":"One of the areas which my law firm, Topkins & Bevans, with offices in Boston, Waltham and Braintree, Massachusetts, has recently become extremely active is real estate owned by banks and other financial institutions after foreclosure (generally known as \"REOS\"). REO purchases are not for the meek, and I thought\u2026","rel":"","context":"In "closing"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/blog.topbev.com\/index.php?rest_route=\/wp\/v2\/posts\/393","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blog.topbev.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.topbev.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.topbev.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.topbev.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=393"}],"version-history":[{"count":5,"href":"https:\/\/blog.topbev.com\/index.php?rest_route=\/wp\/v2\/posts\/393\/revisions"}],"predecessor-version":[{"id":837,"href":"https:\/\/blog.topbev.com\/index.php?rest_route=\/wp\/v2\/posts\/393\/revisions\/837"}],"wp:attachment":[{"href":"https:\/\/blog.topbev.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=393"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.topbev.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=393"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.topbev.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=393"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}