Property abstracts chronicle transactions related to a particular property. A property abstract also summarizes the ownership record of a property. Advanced Abstract is a title deed company operating in Allentown PA, Bethlehem PA, Easton PA, Reading PA and Stroudsburg PA. They can check your property abstract or the abstract of the property you intend to purchase. That you way you can become aware of ant defects or potential defect to title.
A title deed company can prepare a property abstract for you. The abstract will identify the current owner as well as past owners of a property. When you buy property, the current owner must give you a deed to the property. You need to be sure the deed that is given to you is valid. Property abstracts check that deeds are valid and that a property is free of encumbrances. If there is a problem with a deed, that problem needs to be fixed before closing.
Even if on the face of it a deed seems valid, there could be skeletons in the closet. Some event in the past might have been fraudulent or unlawful. Maybe somebody made a mistake and forgo to record something important. There is always the risk that your title could be spoilt. The title and abstracting process assesses past transactions to determine the validity of every owner’s rights.
An abstract is a powerful document but still does not guarantee there are no defects in title. Property abstracts provide land owners with some surety that the property title is clear. Property transactions involve large sums of money. Even if you have an abstract, it is a good idea to cover your property rights through title insurance. Title insurance covers you in the evet that a defect in deed or title compromises your rights to the property.
Reading, Easton, Stroudsburg PA Abstracts from Advanced Abstracts are thorough, fast, and efficient. Call us today for more details!