Title Companies

– History Of Title Companies. –

The modern-day title firm may be traced back to the role of “conveyancer” in English and early American law. “Conveyancing” is the legal word for transferring legal title to real property from one person to another, or for granting an encumbrance on real property, such as a mortgage or a lien. Historically, a conveyancer was the person in charge of establishing, essentially, that the seller had the title to sell, or “convey,” to the buyer.

The conveyancer will establish the seller’s ownership by reviewing available public records and abstracts, thereby allowing the sale to be completed. If for any reason it is later determined that the Seller did not have clear title to the property, the Buyer’s sole recourse is against the Assignor and not against the Seller or any other party. For this reason, buying real estate can be a risky proposition: errors in public records can be costly and leave buyers with no way to recoup their investment. In fact, in an early American real estate law case, Watson v. Muirhead, the court held that the conveyancer had in fact exercised due diligence in assessing the lien and that the purchaser of the property had The property subject to this lien has no valid claim. against anyone for losses related to your investment. In fact, it was that case that led to the innovation we now know as title insurance.