Chapter 13 Title Records The recording of property ownership is a serious undertaking, and the storage and maintenance of ownership and title records is a function of government.

2 ©2013 Kaplan, Inc. 13 Title Records Learning objectives –Identify the various proofs of ownership –Describe recording, notice, and chain of title issues –Explain the process and purpose of a title search –Distinguish constructive and actual notice

3 ©2013 Kaplan, Inc. 13 Title Records Public records –Recording: the act of placing documents in the public record –Notice: constructive, actual, and inquiry –Priority: the order of rights in time –Unrecorded documents –Chain of title: the record of a property’s ownership –Title Search and abstract of title –Marketable title

4 ©2013 Kaplan, Inc. 13 Title Records Proof of ownership –Certificate of title –Abstract and attorney’s opinion of title –Title insurance Standard coverage Extended coverage Owner’s policy Lender’s policy –Torrens system