"Chain" of Title: How Blockchain Will Affect Land Title Research, Recordation, and Insurance
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Mason's Minnesota Statutes 1927
1940 Supplement To Mason's Minnesota Statutes 1927 (1927 to 1940) (Superseding Mason s 1931, 1934, 1936 and 1938 Supplements) Containing the text of the acts of the 1929, 1931, 1933, 1935, 1937 and 1939 General Sessions, and the 1933-34,1935-36, 1936 and 1937 Special Sessions of the Legislature, both new and amendatory, and notes showing repeals, together with annotations from the various courts, state and federal, and the opinions of the Attorney General, construing the constitution, statutes, charters and court rules of Minnesota together with digest of all common law decisions. Edited by William H. Mason Assisted by The Publisher's Editorial Staff MASON PUBLISHING CO. SAINT PAUL, MINNESOTA 1940 CH. 64—PLATS §8249 street on a street plat made by and adopted by the plat, or any officer, department, board or bureau of commission. The city council may, however, accept the municipality, may present to the district court a any street not shown on or not corresponding with a petition, duly verified, setting forth that such decision street on an approved subdivision plat or an approved is illegal, in whole or in part, specifying the grounds street plat, provided the ordinance accepting such of the Illegality. Such petition must be presented to street be first submitted to the planning commission the court within thirty days after the filing of the deci- for its approval and, if approved by the commission, sion in the office of the planning commission. be enacted or passed by not less than a majority of Upon the presentation of such petition, the court the entire membership of the council, or, if disapproved may allow a writ of certiorari directed to the planning by the commission, be enacted or passed by not less commission to review such decision of the planning than two-thirds of the entire membership of the city commission and shall prescribe therein the time within council. -
Get a Glossary of Terms Used in the Title Industry
GLOSSARY A Abstract Plant – A geographically arranged abstract plant, currently kept to date, that is adequate for use in insuring titles, so as to provide for the safety and protection of the policyholders. An abstract plant as further defined in Rule P-12 and as further provided for in the Insurance Code, Chapter 2501.003 and Chapter 2502, must include an abstract plant for each county in which a title insurance agent or direct operation maintains an office. Abstract of Title - A compilation of all the recorded documents relating to a parcel of land. Usually kept by the land owner and used as the basis for an attorney as to the condition of title. Still in use in some states, and in some areas of Texas, but mostly replaced by issuance of title insurance. Abstract of Judgment – A lien created by a statutory filing of a court judgment in the real property records. This lien, commonly referred to as an AJ (in Texas), attaches to all non- exempt real property of the person or entity that the judgment was against. Acceleration Clause (in a mortgage) – Specifies conditions under which the lender may advance the time when the entire debt which is secured by the mortgage becomes due. For example, most mortgages contain provisions that the note shall become due immediately upon the sale of the securing land without the lender's consent or upon failure of the landowner to pay an installment when due. Access – The right to enter and leave a tract of land from a public way. Can include the right to enter and leave over the lands of another. -
Adverse Possession and the Transmissibility of Possessory Rights – the Dark Side of Land Registration? Mark Pawlowski* *Barris
Adverse Possession and the Transmissibility of Possessory Rights – The Dark Side of Land Registration? Mark Pawlowski* *Barrister, Professor of Property Law, Scholl of Law, University of Greenwich James Brown** **Barrister, Senior Lecturer in Law, Aston University It is trite law that, if unregistered land is adversely possessed for a period of 12 years, the title of the paper owner is automatically barred under s.15 of the Limitation Act 1980. Where the land is registered, however, there is no automatic barring of title by adverse possession1 – instead, after being in adverse possession for a minimum of 10 years,2 the adverse possessor can apply to be registered as the proprietor in place of the registered proprietor of the land.3 Upon receipt of such an application, the Land Registry is obliged to notify various persons interested in the land, including the registered proprietor.4 Those persons then have 65 business days5 within which to object to the registration6 and, in the absence of any objection, the adverse possessor is entitled to be registered as the new proprietor of the land. 7 In these circumstances, the registered proprietor is assumed to have abandoned the land. If, on the other hand, there is an objection, the possessor will not be registered as the proprietor unless he falls within one of the three exceptional grounds listed in paragraph 5, Schedule 6 to the Land Registration Act 2002, where: (1) it would be unconscionable for the registered proprietor to object to the application; (2) the adverse possessor is otherwise entitled to the land; or (3) if the possessor is the owner of adjacent property and has been in adverse possession of the subject land under the mistaken, but reasonable belief, that he is its owner. -
Adjudicated Prop Ltr to Prospective Purchasers
MEMORANDUM OFFICE OF THE PARISH ATTORNEY PROPERTY DIVISION 222 St. Louis Street, Suite 902 P. O. Box 1471 Baton Rouge, LA 70802 Baton Rouge, LA 70821 Phone: (225) 389-3114 (Donna or Renita) Email: [email protected] [email protected] WEBSITE: www.brla.gov/parish attorney/adjudicated property The process of purchasing adjudicated property is complex. YOU ARE STRONGLY ADVISED TO CONSULT A PRIVATE ATTORNEY, PARTICULARLY ONE THAT HANDLES REAL ESTATE TRANSACTIONS. That attorney can advise you as to the process, the statues governing the sale of adjudicated property, abstract and title examination, etc. This office cannot and will not give you legal advice on this or any other matter. We will simply facilitate the sale process. In order to assist you in the purchase of adjudicated property, the City-Parish has adopted the following procedures in accordance with the provisions of LSA-R.S. 47:2196 et seq. Those statutes are attached hereto for your reference. REDEMPTION OF PROPERTY: Please note that the tax debtor/owner of an adjudicated property has the right to redeem that property with the East Baton Rouge Parish Sheriff at any time prior to our sale of the property to you. If the redemption occurs after the initial three year period, you will be able to recover the advanced costs you have remitted to initiate the process. We will not open a file for any property that has been adjudicated for less than three years from the date the Act of Adjudication was recorded. THE PROCESS: Before beginning the process to purchase an adjudicated property with our office, you must first determine that the property in which you are interested has in fact been adjudicated, and is still adjudicated, to the City-Parish. -
Real Estate Title and Escrow Companies: a BSA Filing Study
Financial Crimes Enforcement Network Real Estate Title and Escrow Companies: A BSA Filing Study Assessing Suspicious Activity Reports and Suspicious Form 8300 Filings Related to Real Estate Title and Escrow Businesses 2003–2011 July 2012 Real Estate Title and Escrow Companies: A BSA Filing Study i Table of Contents Introduction 1 Executive Summary 4 Methodology 8 Research and Analysis 11 Appendix 47 ii Introduction The mission of the Financial Crimes Enforcement Network (FinCEN) is to enhance the integrity of financial systems by facilitating the deterrence and detection of financial crime. One tool FinCEN uses to accomplish this mission is a series of statutory authorities commonly referred to as the Bank Secrecy Act (“BSA”). Consistent with the BSA, and other authorities, FinCEN’s regulations require financial institutions to submit to FinCEN certain records or reports that may have a high degree of usefulness in criminal, tax, or regulatory investigations or proceedings, or in the conduct of intelligence or counterintelligence activities, including analysis, to protect against international terrorism. FinCEN oversees the maintenance of a database with approximately 180 million records of financial transactions and other reports filed by institutions subject to the BSA. This data represents the most broadly relied upon and largest source of financial intelligence available to law enforcement and regulatory authorities at the Federal, State, and local levels. FinCEN’s own use of these filings to identify trends and patterns and to provide feedback to the filing public often leads to published reports such as this one dealing with the nature of the filings that pertain to real estate-related title and escrow companies. -
Chain of Title – Information Sheet
Chain of Title – information sheet Important note about this Chain of Title guidance This information sheet provides you with guidance about the New Zealand Film Commission (NZFC) requirements in relation to Chain of Title. It will help you provide the Chain of Title information we require for any form of NZFC funding. It is not intended to be legal advice nor is it intended to be comprehensive. You are welcome to call us to discuss any Chain of Title queries you may have. Before acting on this information, we recommend you seek other professional and legal advice. What is Chain of Title? Chain of Title is a timeline of transfers of title (ownership) in the rights to a project. The ‘chain’ analogy is used to illustrate the line of ownership running from the current owner back to the original owner of the property. Chain of Title means, collectively, all of the agreements that give you permission to use other people’s material in, and contributions to, your film. Why is Chain of Title important? In the film and television industry, it is very important to be able to have written agreements showing that the producer owns or controls the rights in the film. Before they will invest or lend to a production, funders and investors will want to see evidence that the production company has the right to make and distribute the film. And before they’ll represent or show a film, exhibitors, film festivals, sales agents and distributors will usually require documentation to verify the producer’s rights in the film. -
The Condominium Act
REPUBLIC ACT NO. 4726 AN ACT TO DEFINE CONDOMINIM, ESTABLISH REQURIEMENTS FOR ITS CREATION, AND GOVERN ITS INCIDNETS SECTION 1. The short title of this Act shall be The Condominium Act. SECTION 2. A condominium is an interest in real property consisting of a separate interest in a unit in a residential, industrial or commercial building and an undivided interest in common directly or indirectly, in the land which it is located and in other common areas of the building. A condominium may include, in addition, a separate interest in other portions of such real property. Title to the common areas, including the land, or the appurtenant interests in such areas, may be held by a corporation specially formed for the purpose (hereinafter known as the condominium corporation) in which the holders of separate interests shall automatically be members or share−holders, to the exclusion of others, in proportion to the appurtenant interest of their respective units in the common areas. The interests in condominium may be ownership or any other interest in real property recognized by the law of property in the Civil Code and other pertinent laws. SECTION 3. As used in this Act, unless the context otherwise requires: a. Condominium means a condominium as defined in the next preceding section. b. Unit means a part of the condominium project intended for any type of independent use or ownership, including one or more rooms or spaces located in one or more floors (or part or parts of floors) in a building or buildings and such accessories as may be appended thereto. -
December 21, 2016 Ambiguity and Ignorance in Mattson Ridge, LLC V
December 21, 2016 Ambiguity and Ignorance in Mattson Ridge, LLC v. Clear Rock Title and Ticor Insurance Company By RONALD P. MURPHY, LS EMERITUS I have been requested to provide an opinion as to whether the legal description of concern in the Mattson Ridge, LLC v. Clear Rock Title, LLP case was ambiguous or not. My opinion is in four parts. Part one will include extrinsic evidence, the deed of 1891, the incipient deed, and review the instrument from the point of view or the parties at the time it was executed. It will look at the marketable title issue as cited in City of North Mankato v. Carlstrom N.W. 2nd 130, 133 (1942). A marketable title is “one that is free from reasonable doubt; one that a prudent person, with full knowledge of all the facts would be willing to accept.” Mattson Ridge deemed the title unmarketable because the description was ambiguous. Part two is the location of the original trail or township road on the ground. Part three is based on the face of the document, all of the deed of 2005, and not just a part of it. That opinion is limited to the rules of construction in interpreting instruments, the meaning of words and the difference in, and the value to be applied to, directory calls and locative calls, as well as the intent of the instrument, none of which were used by the attorneys or the courts. Any one of these three methods is sufficient to prove the descriptions of record were not ambiguous, and if not ambiguous, then marketable. -
Marketable Title Acts - a Means to Improve Title Practice
Denver Law Review Volume 30 Issue 11 Article 4 June 2021 Marketable Title Acts - A Means to Improve Title Practice Robert T. Haines Follow this and additional works at: https://digitalcommons.du.edu/dlr Recommended Citation Robert T. Haines, Marketable Title Acts - Means to Improve Title Practice, 30 Dicta 423 (1953). This Article is brought to you for free and open access by the Denver Law Review at Digital Commons @ DU. It has been accepted for inclusion in Denver Law Review by an authorized editor of Digital Commons @ DU. For more information, please contact [email protected],[email protected]. Nov., 1953 DICTA MARKETABLE TITLE ACTS-A MEANS TO IMPROVE TITLE PRACTICE* ROBERT T. HAINES of the Denver Bar Our Supreme Court has defined a marketable title as one "that is fairly deductible of record . that is reasonably free from such doubts as will affect the market value of the estate; one which a reasonably prudent person with knowledge of all the facts and their legal bearing would be willing to accept." The central concept of this definition is an economic one. That is, if a reasonably prudent person would feel sufficiently secure from the loss of his investment in the title that he would purchase it without discount, then the title is marketable. How- ever, we do not practice what we preach. The reagent by which the transactions in a chain of title are tested is not the probability of economic safety, but is a set of formal legalist standards. As ap- plied to transactions which took place within recent times these standards are objective in character and provide only a reasonable margin of security. -
Abstract of Title an Abstract of Title Is a Summary of the Legal History of a Piece of Real Property
Abstract of Title An abstract of title is a summary of the legal history of a piece of real property. It is used by title insurance companies as the basis for issuing title insurance and by attorney's examining title as the basis for their conclusions with regard to ownership. Despite its importance, the abstract of title is not a legal document and is not prepared by any gov- ernmental agency. Rather, it is a summary prepared by a title company or abstracting rm. To prepare the abstract, an employee of the rm, called an abstractor, reviews all of the records on le with the oce of the county recorder or similar government land title oce, which relate to that particular piece of property. The abstractor prepares a short summa- ry of each transaction, arranged in chronological order, which identify the instruments (deed, mortgage, etc.), names the grantor's and grant- ees, lists the dates the instruments were signed and led, and, where appropriate, provides a summary of their contents. This sequence of deeds and other documents are often call the property's chain of title, and the function of the abstract is to summarize it accurately. The abstract of title will have as its rst entry a summary of the transac- tion by which the United States Government conveyed the land to a private party for the rst time. It then shows every transaction aecting the land from that date up until the present. A new abstract is not prepared each time the property is sold. Rather, at each sale the abstract is updated to reect new transactions since the time of the last update. -
Council of the Town of Castle Rock, Colorado, on First and Final Reading by Avote of Cjf for and ^9 Against
RESOLUTION NO. 2018-080 A RESOLUTION APPROVING A CONTRACT TO BUY AND SELL REAL ESTATE FOR THE ACQUISITION OF REAL PROPERTY LOCATED AT 830 N. WILCOX STREET WHEREAS, the Town and Hung Nguyen have agreed to the terms and conditions by which the Town will acquire the real property located at 830 N. Wilcox Street, Castle Rock, Colorado. NOW, THEREFORE BE IT RESOLVED BY THE TOWN COUNCIL OF THE TOWN OF CASTLE ROCK, COLORADO AS FOLLOWS: Section 1. Approval. The Contract to Buy and Sell Real Estate in the form attached as Exhibit 1 is hereby approved. The Mayor and other proper Town officials are authorized to execute the Contract by and on behalf ofthe Town ofCastle Rock, Colorado. Section 2. Encumbranceand Authorization for Payment. In order to meet the Town's financial obligation under the Contract, the Town Council authorizes the expenditure and payment from the 2018 appropriation account no. 110-1530-415.79-11, in an amount not to exceed $849,000, unless authorized in writing by the Town ofCastle Rock. PASSED, APPROVED AND ADOPTED this 4th day of September, 2018 by the Town Council of the Town of Castle Rock, Colorado, on first and final reading by a vote of Cjf for and ^9 against. ATTEST: TOWN OF CASTLE ROCK MA .isa Anderson, To^n-Gferk Jenmfer Greerf, Mayor Approved as to form: Approved as to content: Town Attorney Goebel, P.E., Director ofPublic Works Exhibit 1 1 2 3 ©REALTY GROUP One Group Premier Jeff Samuelson 5 Ph: 303-798-4300 6 7 The printed portions of this form, except differentiated additions, have been approved by the Colorado Real Estate 8 Commission.(CBS3-6-15) (Mandatory 1-16) 9 10 THIS FORM HAS IMPORTANT LEGAL CONSEQUENCES AND THE PARTIES SHOULD CONSULT LEGAL 11 12 AND TAX OR OTHER COUNSEL BEFORE SIGNING. -
LAND REGISTRATION for the TWENTY-FIRST CENTURY a Conveyancing Revolution
LAND REGISTRATION FOR THE TWENTY-FIRST CENTURY A Conveyancing Revolution LAND REGISTRATION BILL AND COMMENTARY Laid before Parliament by the Lord High Chancellor pursuant to section 3(2) of the Law Commissions Act 1965 Ordered by The House of Commons to be printed 9 July 2001 LAW COMMISSION H M LAND REGISTRY LAW COM NO 271 LONDON: The Stationery Office HC 114 The Law Commission was set up by section 1 of the Law Commissions Act 1965 for the purpose of promoting the reform of the law. THE COMMISSIONERS ARE: The Honourable Mr Justice Carnwath CVO, Chairman Professor Hugh Beale Mr Stuart Bridge· Professor Martin Partington Judge Alan Wilkie QC The Secretary of the Law Commission is Mr Michael Sayers Her Majesty’s Land Registry, a separate department of government and now an Executive Agency, maintains the land registers for England and Wales and is responsible for delivering all land registration services under the Land Registration Act 1925. The Chief Land Registrar and Chief Executive is Mr Peter Collis The Solicitor to H M Land Registry is Mr Christopher West The terms of this report were agreed on 31 May 2001. The text of this report is available on the Internet at: http://www.lawcom.gov.uk · Mr Stuart Bridge was appointed Law Commissioner with effect from 2 July 2001. The terms of this report were agreed on 31 May 2001, while Mr Charles Harpum was a Law Commissioner. ii LAW COMMISSION HM LAND REGISTRY LAND REGISTRATION FOR THE TWENTY- FIRST CENTURY A Conveyancing Revolution CONTENTS Paragraph Page PART I: THE LAND REGISTRATION BILL AND