To me, its an update if ownership hasn't changed.  If there is a new deed, then it is a current owner.  If there are two new deeds, its a 2-owner, etc...  This makes the most sense to me because whether it has been 2 months, 6 months, or 3 years - if the owners are the same you only have to run one name in the index.  You might find a couple of more documents if it has been a much longer period of time, but usually it doesn't take much longer to do the update.

Best,
Robert A. Franco
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