I wonder how many abstractors still do that detailed of a search? Can't be many as the searches have to be done so rapidly and for such little compensation......
I agree with you Robert. I don't have time to do that detailed of a search for ALL my clients since so many demand such unreasonable turn-around times--and don't seem to care. However, I DO conduct that detailed of a search for some of my clients who value accuracy over deadlines.
Just last week, I had three instances where that detail showed errors or potential errors or areas of concern. The first was a request to do a current owner for a local attorney. Nothing should have been amiss, EXCEPT that we had done a current owner on this property for THREE separate attorneys in the area in the last 60 days. As we all know, repeated refinancing in such a short period of time SMACKS of some type of fraud. I called the attorney and told her she might be about to put her name on something she might want to check out first. She was VERY appreciative.
The second was when I found that the person who was a WITNESS to a deed--the most recent vesting deed--was actually a grantee on that deed. In SC, we require two witnesses to the deed, one of which can be the notary. In this case, the parents were adding their daughter to the deed. Problem? SHE was the WITNESS to the deed, which the notary then signed. I see that as a potential problem, how about you? So I notified the client that they needed to take a look at that. I was told that I had taken so long trying to figure out something "STUPID" that she didn't have TIME to worry about that. BTW, the something "stupid" was not being able to locate the property from the legal description and the plat referenced in the vesting deed--another red flag as far as I'm concerned.
The third was a 40 year search on a lot in a subdivision--one of those 5 acre lots. It CLEARLY had to have been searched before--most likely repeatedly. Problem? the plat clearly showed a CEMETARY within the boundaries of the subject property. NONE of the prior deeds mentioned ANYTHING about a cemetary or an easment thereto. Only because I checked the plat for anything that might not have been referenced in the chain did I find that little diddie. And in case you are wondering--yes, that is our JOB.
And then people wonder why title insurance claims are through the roof.
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