What Ever Happened to Abstracts of Title?

Hello Friends,

Occasionally, a seller will still bring in an old abstract from years ago to pass on to the buyer. I’m certain some of the younger folks who might be bored enough to read my blog have never heard of or seen an abstract.

An abstract is a compiled history of every recorded document tied to a piece of real estate. It traces ownership, liens, easements, and other claims on the property. It is put together in a small book and reviewed by attorneys, who then give an opinion about the status of the title.

Of course, this is largely a thing of the past. The last abstract we reviewed was in 1989. My favorite abstract here at Hogan involved a property near Ash Grove, where Nathan Boone, Daniel Boone’s youngest son, settled on 680 acres. This abstract includes not only the deed by which he took title, but also a record of his will. Being able to read Nathan Boone’s will was fascinating.

Two things happened regarding abstracts in our area: title companies stopped extending them, and attorneys stopped reviewing them and writing title opinions. Since our business remains largely the same year over year, this shift from abstracts to title insurance has been one of the biggest changes I’ve seen in my many years in the industry.

Got a question? You know where to find me, 

Keith