Author: james kahn
Source: articlesbase.com
It was 1876, in Philadelphia, when the first title insurance company was founded. Prior to that, there were no such thing as legal forms for title insurance to real estate, or other kinds of property for which title insurance would be appropriate. Before title insurance, there were conveyancers, who had the job of individually searching titles or abstracts based on what was found in the public records. This was done to determine legitimate ownership of property. There were, however, no insurance to guarantee the correctness of the search, and the protection from mistakes, or information not found in the records. After WWll, along with the astronomical building activity of new homes for returning servicemen, the title insurance industry became a national business, although, still centered on the local community. It is interesting that Philadelphia was the center of the newly formed title insurance industry. As is well known, Philadelphia was the location of the first federal capital of the United States, before it was later moved to Washington D.C. which at that time, was not developed. Philadelphia was nation, and a stronghold for liberty. The liberty bell, and Independence Hall, the location of the signing of the early founding documents of the nation, are popular places to visit in the City of Love. Since then, an uncountable array of legal forms have steadily grown in abundance and especially in the real estate industry, where there is a legal document required to be completed in each step of the process in acquiring and selling real estate. From the simple days of early Philadelphia, to the complicated days of today, the nation has crossed many paths, and encountered many boulders on the path, but the nation has made it this far, and is destined for much further expansion, and continued unfoldment of real estate activities. As every real estate agent, and mortgage lender checks off each step completed in the home buying process, one step that has to also be checked off today, and in fact is one of the first steps prior to the day of settlement, in which all parties of the real estate transaction have completed their requirements, is the title insurance company information. Title must be cleared. The records are searched going all the way back to early American history, and in some regions, this includes the Spanish haciendas when Spanish controlled part of what is now the United States. The old title records are a historian’s treasure of valuable information, and a necessary document that a real estate agent must check off before submitting the file to the broker, and the mortgage company.
James is a leader in writing about legal forms and agreements that may assist you when you are in the search of the right legal document. He writes many articles about forms ranging from, real estate forms, power of attorney forms, landlord tenant forms, and most any legal form that you are searching for.