If you plan on buying property, then you should be aware of abstracts. Advanced Abstracts is a title company and they can help you with property abstracts in Allentown PA, Bethlehem PA, Easton PA, Reading PA or Stroudsburg PA. A property abstract is a collection of legal documents that pertain to a specific property. These include title deeds, mortgages, wills, probate records, court record, liens, taxes and more.
When you buy property you want to be sure the title you receive is clear of defects. Defects in title can affect your right to use the land or property in question. Some of the important documents contained in a property abstract include
- Original land information
- Property Maps
- Lot & Block Diagrams
- Subdivision Restrictions
- History of the Property
- Recorded Deeds
- Recorded Mortgages
- Legal Actions/Suits Filed
By reviewing the abstract you can see the property’s full history including who the current owner of the property is. To acquire ownership of a piece of land, someone must give you a title deed to the land. That means the person giving you the tile must be the legal owners of a valid title.
One way to protect yourself against possible defects in title, is through title insurance. Title insurance provides you with financial protection should one or more defects in title impact on your ownership of the land. A title company such as Advanced Abstract can help you with title insurance. A title company or real estate attorney will conduct an initial title search to determine if title insurance is possible or viable.
These days we live in an online world where much information is online. This also applies to titles and abstracts. That means a lot of information related to property titles and abstracts can be found online.