I believe the $36.00 fee you saw referred to the charge for a continuation of abstract. In the early '70s we were normally given the abstract for the property continued to within a few days of the sale to the current owner. Our continuation would have included the cover page, cancellation of the prior mortgage, new deed and mortgage, and eleven sections on the tail sheet (taxes, notice of indicies run, etc.). We charged $2.50 a section, for a normal price of $37.50. The price would of course be higher if additional sections were needed, equity loans, refinances, assignments or releases, judgements, probate, etc. It was referred to as an update of abstract, or a continuation. If the sale was delayed and a further update was needed, we did a no change to the abstract and charged about $10.00.
The continuation of abstract was charged to the seller. The buyer would be charged for the examination of the abstract, usually around $75.00. The buyers attorney or the new lenders attorney would examine all the continuations in the abstract and render an opinion based on what the various abstracters had shown.
At closing, the buyer was given the abstract (or it was held by the lender until the mortgage was satisfied).
I think a lot of the problem with with lines 1102 &1103 of the HUD is the tendency of some companies to mix title search and title examination together on one line.
Doug Gallant
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