Greater Pocono Area Abstract

 

  • Affiliated with MHK Attorneys, a full service law firm
  • Full Abstract and Title Services:
  • Agreements of Sale
  • Deeds
  • Mortgages
  • Promissory Notes
  • Closing Documents
  • Notary Sevices
  • Closing of Property Sales or refinance
  • Review contracts
  • Paying off prior mortgages
  • Coordinating property inspections
  • Preparing HUD-1 settlement statements
  • Coordinate and finalize documents
  • Close transactions
  • Submit pertinent documents for proper recording in public record
  • Title searches
  • Title examinations
  • Provisions of title certificates and title insurance

Settlement Services: Include the conducting of closing of property sales or refinance, including any service provided in connection with real estate.

Title Insurance: When purchasing a commercial or residential property it is imperative to protect your investment by getting the right title insurance.

What is title insurance?  It protects real estate owners and lenders against any property loss or damage they might experience due to liens Make sure that the title to a piece of real estate is legitimate and then issues title insurance for the property, It protects the lender and/or claims against the property that result from disputes over the title. Most mortgage lenders require buyer to purchase Title Insurance.

ABSTRACT OF TITLE is an evidence of ownership in the conveyance of property. It aims in abbreviated form to trace as far back as possible or desirable the history of the property, the names of its successive owners and the dates of various transfers. Title companies assure the validity and marketability of the title and guarantee the buyer against loss up to the amount of his purchase.

A property abstract is a collection of legal documents that chronicle transactions associated with a particular parcel of land. Generally included are references to deeds, mortgages, wills, probate records, court litigations, and tax sales—basically, any legal document that affects the property.
The abstract will show the names of all property owners, how long a particular holder owned it, and the price of the land when it was sold. Rarely will an abstract mention capital improvements to the property.
An abstract of title is the condensed history of the title to a particular parcel of real estate, consisting of a summary of the original grant and all subsequent conveyances and encumbrances affecting the property and a certification by the abstractor that the history is complete and accurate.

An abstract of title should be distinguished from an opinion of title. While an abstract states that all of the public record documents concerning the property in question are contained therein, an opinion states the professional judgment of the person giving the opinion as to the vesting of the title and other matters concerning the chain of title. Many jurisdictions define the giving of an opinion of title as the practice of law, thus making it unlawful for a non-attorney to provide such an opinion.

In property law, a title is a bundle of rights in a piece of property in which a party may own either a legal interest or equitable interest. The rights in the bundle may be separated and held by different parties. It may also refer to a formal document, such as a deed, that serves as evidence of ownership. Conveyance of the document may be required in order to transfer ownership in the property to another person. Title is distinct from possession, a right that often accompanies ownership but is not necessarily sufficient to prove it. In many cases, both possession and title may be transferred independently of each other. For real property, land registration and recording provide public notice of ownership information.

In United States law, typically evidence of title is established through title reports written up by title insurance companies, which show the history of title (property abstract and chain of title) as determined by the recorded public record deeds; the title report will also show applicable encumbrances such as easements, liens, or covenants. In exchange for insurance premiums, the title insurance company conducts a title search through public records and provides assurance of good title, reimbursing the insured if a dispute over the title arises. In the case of vehicle ownership, a simple vehicle title document may be issued by a governmental agency.

 


The main rights in the title bundle are usually:

Exclusive possession
Exclusive use and enclosure
Acquisition
Conveyance, including by bequest
Access easement
Hypothecation
Partition


The rights in real property may be separated further, examples including:

Water rights, including riparian rights and runoff rights
In some U.S. states, water rights are completely separate from land
Mineral rights
Easement to neighboring property, for utility lines
Tenancy or tenure in improvements
Timber rights
Farming rights
Grazing rights
Hunting rights
Air rights
Development rights to erect improvements under various restrictions
Appearance rights, often subjected to local zoning ordinances and deed restrictions

 

 

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