Nice to know facts about…
IOWA ABSTRACT PREPARATION & CHAIN OF TITLE
- What can we expect within an abstract update?
- Look at last page for Certification date. Continuation entries will begin at certification date.
- New Abstracts are compiled from recorded documents throughout the last 40+ years, beginning with a ”Root of Title” such as a deed, or an estate proceeding.
Chain of Title, entry examples required within Iowa abstracts:
- Affidavits – all types
- Agreements – regarding land under examination
- Amendments – to any land transfer document
- Assignments of Mortgage/s – Lender to lender
- Change of Title – recorded or shown for reference
- Contracts – Vendor to vendee/s, seller to buyer/s
- Court Proceeding Records – Estate, Dissolution, Conservatorship, Child support
- Deaths, Marriages, Name changes
- Deeds – such as Warranty, Quit Claim, Trustee, Court Officer, Sheriff
- Easements – water district/companies, land use, city use
- Financing Statements – debtor to lender/secured party
- Foreclosure – court proceedings, often 4-7 pages
- Liens or Judgments – court filings, small claims, mechanics liens
- Mortgages – how many since last certification?
- Power of Attorney – when requested, needed or used
- Releases – of liens, mortgages, contracts, financing statements
- Subordination of mortgages by lenders
- Trade Names
- Zoning regulations references – city, county
Have ANY occurred since last certification?
AND keep in mind…
- The process of searching, gathering, organizing and presenting these records is a formidable task
- Every mortgage, assignment and release will have separate entries abstracted
- Any recordings, since last certification date, which impact chain of title, will have separate entries
- New Abstracts contain 40+ years of required recordings which affect chain of title to property
- Any Court proceedings, relative to property or titleholders of record will be abstracted
- Recommendation is every abstract be reviewed by a Real Estate attorney for their Title Opinion.
- Abstract-Title Opinion is Iowa’s land transfer method.