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Abstract of Title
An abstract of title is a condensed history of the title of a parcel of land. It consists of a synopsis of every recorded instrument affecting the parcel and is arranged in chronological order according to the recorded date and time of each of these instruments. These synopses, termed "set outs," show the most important information in each instrument, or document. The instruments shown in an abstract of title include, but are not limited to, the following: deeds, mortgages, easements, rights-of-way, judgments, and other liens and encumbrances.
The Preferred Service Program
All too often, abstracts are ordered at the last minute, delaying closing and disbursement of funds. This shortcoming can cause deals to fall through. Our goal is to remove this frequent setback by ensuring that the abstract is completed early on in the process. By completing your abstract order right from the beginning, 24RR&A can create or continue an abstract of title for your customer in a timeframe suitable for all their transactions.
Simply submit the order with the Preferred Service order form. Our expert staff will complete the necessary work and have the abstract ready when you need it.
Whether you are in need of a new abstract of title or merely a continuation, we offer the fastest turnaround time in the area. For orders that are submitted with no anticipation of closing in the near future, our "Just-In-Time" policy guarantees that the abstract will be available right when a new development takes place. Simply call, fax, email, or stop by the office requesting the abstract, and we will have it ready for you within 24 hours for pick-up or delivery*.
*Delivery is limited to locations within the Cities of Oswego and Fulton. Special
delivery arrangements are available for other areas.
Title Insurance
Insurance that protects a lender and buyer against loss arising from disputes over ownership of real estate. Many lenders will require the purchase of title insurance to ensure that the borrower is receiving clear, marketable title. There are two types of title insurance policies:
Lender's Policy
This protects the lender from potential flaws in the title of the property after the sale of that property.
Owner's Policy
This protects the borrower exclusively from potential flaws in the title of the property after the purchase of that property. |
