Abstract Facts

Nice to know facts about…

IOWA ABSTRACT PREPARATION & CHAIN OF TITLE

•  What can we expect within an abstract update?
• Look at last page for Certification date. Continuation entries will begin at certification date.
• New Abstracts are compiled from recorded documents throughout the last 40+ years, beginning with a ”Root of Title” such as a deed, or an estate proceeding.

Chain of Title, entry examples required within Iowa abstracts:

• Affidavits – all types
• Agreements – regarding land under examination
• Amendments – to any land transfer document
• Assignments of Mortgage/s – Lender to lender
• Change of Title – recorded or shown for reference
• Contracts – Vendor to vendee/s, seller to buyer/s
• Court Proceeding Records – Estate, Dissolution, Conservatorship, Child support
• Deaths, Marriages, Name changes
• Deeds – such as Warranty, Quit Claim, Trustee, Court Officer, Sheriff
• Easements – water district/companies, land use, city use
• Financing Statements – debtor to lender/secured party
• Foreclosure – court proceedings, often 4-7 pages
• Liens or Judgments – court filings, small claims, mechanics liens
• Mortgages – how many since last certification?
• Power of Attorney – when requested, needed or used
• Releases – of liens, mortgages, contracts, financing statements
• Subordination of mortgages by lenders
• Trade Names
• Zoning regulations references – city, county

Have ANY occurred since last certification?

AND keep in mind…

• The process of searching, gathering, organizing and presenting these records is a formidable task
• Every mortgage, assignment and release will have separate entries abstracted
• Any recordings, since last certification date, which impact chain of title, will have separate entries
• New Abstracts contain 40+ years of required recordings which affect chain of title to property
• Any Court proceedings, relative to property or titleholders of record will be abstracted
• Recommendation is every abstract be reviewed by a Real Estate attorney for their Title Opinion.
• Abstract-Title Opinion is Iowa’s land transfer method.