Vilas County news. [volume] (Eagle River, Vilas County, Wis.) 1896-1927, 1906-08-20
Importance of an Abstract.

Paul A. Hemmy of Juneau followed
with an address on the Importance
Of an Abstract. 81 know Of no pro-
fession," he said, "of which so little
is known by the general run of the
people, and can conceive of no bust
ness that is more important from
practical and business standpoint
than that of an abstracter. We fire.
quently meet people who believe and
sometimes urgently insist that a
warranted deed will clear the land
from anything that might be against
it. We know such belief to be found
ed upon absolute ignorance of the
legal effects,Of the warranty in a deed
of conveyance. 1t is difficult to make
these people understand that such
deed cannot defeat claims that are
foreign to the title of their grantor.
while an abstract does not insure
the title it is, however, of greater
importance than insurance. Abstracts,
unlike insurance, do not speculate
upon the uncertainties of the future,
but they deal with the unerring GER
tainties of existing conditions. By
their use one is placed in a position
where he may avoid future trouble By
taking advantage of the conditions
that are brought to his knowledge be-
fore he takes a conveyance of prop
erty. AS an abstract is of more i'm
portance than insurance, a man who
fails to procure one before purchasing
land has less business judgment than
he who goes without insurance. The
Importance of an abstract ought to
be impressed upon every person who
in any manner transacts business
with reference to real estate, and l
think that this association can do
nothing better than adopt some means
towards educating the public on that
question
What an Abstract Should Be from
an Examiners View Point was the
subject next discussed by L. A. Will
Iiams of Fond du Lac. 'It is the
duty of the person to whom is in
trusted the making of the abstract of
title" he said, ito convey all material
information contained in the original
documents and records to show, when
from the source of title, the inceptive
measures; the foundation of title; the
course of the same to date of the ex-
animation, including every transfer of
any and every interest; the incidents
of the land itself, divisions and sub
divisions. any and ali adverse titles
or claims including judgments against
the person, providing the law makes
them lien on the land, taxes. speci-
al assessments an statutory liens.
and every matter or thing appearing
of record that may affect or impair
the title.
Quit claim deeds should be alb
stracted with as much forma1ity as
warranty deeds The abstract should
show in relation to mortgages, the
parties, consideration, date, date of
recording instrument. and description
of lard. Assignments should show
date, recording parties, mortgage vol
line apd page, and if the assignment
is made in a representative capacity
that fact should appear upon the abb
stract. Satisfaction should show date,
parties, recording. recitals as to as
signments, etc. The abstract should
also show in reference to probate pro
ceedings if interstate, the petition
showing date of death, recitation as
to the widow and heirs. 1t should al
SO show all judgments against the