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Title Process

Abstracting is the preferred choice of many attorneys, lending institutions and private individuals in Grundy County.  An abstract is the history of all transactions shown in the public record affecting a particular tract of land.  The purpose of an abstract is to verify the seller's right to transfer ownership, and to discover any claims, defects, and other rights or burdens on the property. 

It is impossible to determine your expected rights in real estate without an examination of the records. Don't gamble on the loss of property or a lawsuit. When you buy property you expect a right to use and possess, enjoy and sell. Only an Abstracter, with a complete set of land records can locate every link and assemble them into an accurate chain of title. The abstract discloses every matter of record, each being a link in your chain of title.

Below are actual examples of title problems that Community Title Company has discovered, and helped to solve:

  • Forgery of signatures and attempt to sell and encumber without consent
  • Attempt to sell and mortgage without legal Power of Attorney
  • Estates that did not list all of the heirs
  • Unknown easements – titleholder unaware
  • New parcels carved out of larger land, on which taxes were not paid. Both parcels went to tax sale, much to the new owner's surprise.
  • Mortgages without spouse's signature
  • Children born after a will is issued
  • Attempt to sell property without consent from the party who has life estate
  • Encroachments of buildings and driveways
  • Failure to notify 'Right of First Refusal' parties
  • Contracts where deeds were never delivered or recorded after payoff
  • Failure to inform buyer that mineral rights were already sold to another party
  • Improperly released mortgages
  • Deeds from defunct corporation
  • Attempt to sell property with no public access or private road easements
  • Unreleased mortgages which were thought to have been paid off
  • Parties who did not pay off mortgages at closings, took money and left
  • Missing titleholders – quiet title action
  • Attempt to sell property that person did not own
  • Lot lines and platted subdivision dimensions are not the same
  • Undisclosed divorce w/alimony
  • Undisclosed divorce w/child support
  • Deeds delivered after death, without prewritten consent of deceased or court order to sell property
  • Property settlement terms and agreements via the court  - and never recorded with the Recorder
  • Mechanic's Liens of previous owner
  • Unpaid judgments of previous owner
  • Mortgage on neighbor's property, unbeknownst to neighbor
  • Lender mortgages which were 'no good'…legal description was wrong, description didn't close, etc…
  • Right of way agreements and driveway restrictions
  • Zoning restrictions, agriculture restrictions
  • Utility easements exactly where a new house was to be built
  • Realtor sold property, but titleholder did not deed all of the land.
  • Inflated appraisals and stated price on order. Contacted lender to verify.
  • Recorded tax liens, mortgages and assignments that are not listed in the Recorder's mortgage book. That book is a 'reference'; therefore we do not report these discrepancies to the Recorder.
  • Title action which results in a mortgage being due immediately.
  • A so-called county road for the past 140 years turned out to be a private driveway. The county was not even aware that they didn't 'own' this road.





 


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