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[+] Ricter Abstracts, another one to avoid - Peggy Pond/LA (5 replies)
9/22/2008 6:33:54 PM (3589 views)

[+] Heads up Title Stream - Peggy Pond/LA (4 replies)
9/22/2008 6:23:04 PM (3709 views)

[+] Accounting Software - Matthew DeLand/NY (4 replies)
9/22/2008 1:42:10 PM (3048 views)

[+] LandAmerica/Titlewave - Brad Bradbury/PA (1 reply)
9/22/2008 11:59:23 AM (3584 views)

[+] Late pay penatly, RE...... - george Hubka/MI (3 replies)
9/19/2008 7:31:12 AM (3280 views)


Real Title Services


SLK Global BPO Services - Info Please/MO
9/18/2008 9:20:19 AM (3386 views)

American Freedom Assurance - Jennifer Knott/PA
9/18/2008 9:18:08 AM (2959 views)

[+] support the victim, not the offender!! - Patrick Tarr/NE (6 replies)
9/18/2008 12:02:07 AM (3293 views)

[+] Not-So-Fine Print - Scott Perry/PA (1 reply)
9/17/2008 9:09:36 PM (3055 views)

ARRR!!!! - Deborah Manion/VA
9/17/2008 3:36:12 PM (4408 views)

[+] NET10... - Robert Franco/OH (10 replies)
9/17/2008 2:57:59 PM (3301 views)

[+] AFX Corp ??? - Scott Aduddell/MO (10 replies)
9/17/2008 9:17:20 AM (3601 views)

[+] Taxes made simple - Tax Man/MO (24 replies)
9/16/2008 5:11:14 PM (3049 views)

[+] Independent Agents: Save the date, Oct. 6... - Robert Franco/OH (4 replies)
9/16/2008 11:24:14 AM (4778 views)

[-] American Abstract - Robin Ramberg/MI (9 replies)
9/16/2008 2:02:08 AM (3410 views)
Re: American Abstract - Patrick/NY
9/16/2008 11:48:56 AM (3568 views)
Re: American Abstract - Robert Franco/OH
9/16/2008 11:57:46 AM (3602 views)
Re: American Abstract - Patrick/NY
9/16/2008 12:11:09 PM (3415 views)
Re: American Abstract - Robert Franco/OH
9/16/2008 12:46:39 PM (3336 views)

Yes... we all have different customs.  I don't look at it as searching an extra "name."  We don't search "names," really.  We search the "title."  It is our responsibility to show the status of title and if a potential buyer is subject to lien that attaches to after-acquired property - it definitely impacts the status of title. 

When we do searches, we focus on what the client needs to insure title.  That is why I think it is so important for abstractors to understand title insurance and the coverage extended by a title insurance policy.  Unfortunately, too many abstractors don't have a clue!  Although that doesn't prohibit an abstractor from charging extra for some things, I think a basic search fee should cover "all matters" that affect title - perhaps limited by the clients chosen duration of the search.  For example, if the client only requests a current owner, encumbrances from prior owners wouldn't be shown (they accept that risk when the decide to insure on a current owner).  But, after-acquired liens definitely affect all searches of any duration. 

Basically, think about your liability.  If you are provided with a buyer's name and don't run it because your client doesn't "pay extra," you could be in for an E&O claim.  If you return a report that fails to include a lien that you should have found, you are probably going to be liable for the claim. 

Anyway, that is my take on it.  I'm sure there are a lot of other opinions out there.

Best,
Robert A. Franco
SOURCE OF TITLE

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Re: American Abstract - Robert Franco/OH
9/16/2008 2:21:11 PM (3294 views)
Re: American Abstract - elizabeth reddy/FL
9/22/2008 12:12:26 PM (3179 views)
Re: American Abstract - Robert Franco/OH
9/22/2008 1:41:18 PM (3215 views)
Re: American Abstract - Chris Mabie/VA
9/16/2008 8:16:21 PM (3463 views)
Re: American Abstract - Patrick Tarr/NE
9/17/2008 8:37:09 PM (3327 views)


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