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American Freedom Assurance - Jennifer Knott/PA
9/18/2008 9:18:08 AM (3237 views)

[+] support the victim, not the offender!! - Patrick Tarr/NE (6 replies)
9/18/2008 12:02:07 AM (3740 views)

[+] Not-So-Fine Print - Scott Perry/PA (1 reply)
9/17/2008 9:09:36 PM (3471 views)

ARRR!!!! - Deborah Manion/VA
9/17/2008 3:36:12 PM (4829 views)

[+] NET10... - Robert Franco/OH (10 replies)
9/17/2008 2:57:59 PM (3751 views)




[+] AFX Corp ??? - Scott Aduddell/MO (10 replies)
9/17/2008 9:17:20 AM (4013 views)

[+] Taxes made simple - Tax Man/MO (24 replies)
9/16/2008 5:11:14 PM (3512 views)

[+] Independent Agents: Save the date, Oct. 6... - Robert Franco/OH (4 replies)
9/16/2008 11:24:14 AM (5464 views)

[-] American Abstract - Robin Ramberg/MI (9 replies)
9/16/2008 2:02:08 AM (3837 views)
Re: American Abstract - Patrick/NY
9/16/2008 11:48:56 AM (4757 views)
Re: American Abstract - Robert Franco/OH
9/16/2008 11:57:46 AM (4756 views)
Re: American Abstract - Patrick/NY
9/16/2008 12:11:09 PM (4501 views)
Re: American Abstract - Robert Franco/OH
9/16/2008 12:46:39 PM (4534 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 (4488 views)
Re: American Abstract - elizabeth reddy/FL
9/22/2008 12:12:26 PM (4335 views)
Re: American Abstract - Robert Franco/OH
9/22/2008 1:41:18 PM (4428 views)
Re: American Abstract - Chris Mabie/VA
9/16/2008 8:16:21 PM (4538 views)
Re: American Abstract - Patrick Tarr/NE
9/17/2008 8:37:09 PM (4415 views)

[+] E &O Insurance - Matthew DeLand/NY (3 replies)
9/15/2008 8:36:00 PM (3639 views)

[+] What are some of your thoughts on the Lehman's situation? - Vikki Moffitt/GA (3 replies)
9/15/2008 2:08:01 PM (3463 views)

Advanced Title - Karen Neal/CT
9/15/2008 8:08:52 AM (2949 views)

[+] LATE SEARCH PENALTY - ARE YOU KIDDING ME? - Jill Kissell/IA (19 replies)
9/12/2008 10:18:53 PM (4516 views)

[+] Let the takeover of the market begin - Jackie/OH (4 replies)
9/12/2008 6:35:55 PM (5711 views)

RE: MARK WALKER TEXAS PIONEER - George Booth/OH
9/12/2008 3:06:15 PM (3314 views)


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