Omaha daily bee., 1906-07-23
LAND TITLES IN NEW YORK
Searching Records Great Business
Handled on the Depart-
ment store Plan.

Three large companies with an army OF
employees are devoted wholly to the bust
ness OF searching titles and making trans
fers OF real estate in New York City, 20
say nothing Of the companies and the
hundreds of lawyers that do more or less
OF the work. These title companies have
practically searched over the whole OF
New York They have gone through the
haystsck and found all the needles that
are likely to stick into a man unaware
II he goes to buy property. They have
records so complete that II the city's
papers should be burned UP. as they were
in Baltimore. these title companies could
come very near to duplicating them.
Suppose a man wishes to buy a homa-
He employs a title company to search
the title. The work lie done Prospective
buyer and hopeful seller meet in the COM
pany's once. The young lawyer whose
duty II is to close the title is often =
good deal like an executioner In the
presence Of the buyer he turns TO the
seller and says:
"I am sorry. sir. but must tell you
that your title is not marketable"
What? Say that again" the poor man
cries. His face has changed through all
the expressions Of hope, unbelief and mis-
cradle certainty
'Wny, I've owned tnat place Tor ten
years" he declares. "I worked and saved
for It. I paid good cash for It. Do you
mean to tell me 1t isn't mine, to own or
SELF"
What mean Is this" explains the title
man. Your house encroaches two and q
hclf inches upon your neighbours land,
That renders II technically unmarketable.'
and It is my duty to tell this gentleman
so. AS a matter of fact, he may be will
ing to purchase it. If he wants II for a
home without any idea OF selling again
soon I should think he might we'll do So
The law will not permit anyone to dis
turb that wall When It comes down Of
itself the next one must be built two
inches and a half further in; that's ALL"
Perhaps the purchaser is content, and
perhaps he isn't. AS a rule, when a mar
is told of such a technical defect in thsS
title in the fret place, he thinks little ON
IL and considers only whether or not he
wants the property. But II he Is carried
along without knowledge OF it until just
as the sale is about to be contaminated
he is very likely to get angry, cry out that
he has been deceived and refuse to go any
further, no matter how desirable the
transfer looked to him before.
As to the matter of buildings that tres
pass on the adjoining lot, the law has de-
cided that an inch need not be, counted.
The title man cannot say, as Portia did
to Shylock:
IF an inch too much you cut, your
lands are forfeit"
To look after all these complexities a
most elaborate system has been put in
operation. Today a title company is like
a department store Each department
deals with one phase of property rela-
tions First comes the business depart
ment. which looks after prospective Gus
toners, files applications. etc,
After the preliminary contracts between
company and client are drawn, the search
| department" collects all the data in any
way bearing on that title. An abstract
is written out and sent to the law de-
partment. Here one Of the young law
yers, from upstate perhaps, who would
otherwise be wearing out the top of his
desk with his heels begins to prove each
step in the transfer. He compares all
records and notes on the abstract any
possible objections to the title.
The young lawyers work IL reviewed
by set of old sages or higher critics
known readers" They are we'll
versed in all troublesome points of real
| estate law. While they are adjusting
their soectacles the minions of the Sur
vey department" rafting their chains
I
like ghosts, are going over the property
to see that all it's limits are truly marked
The municipal" aud tax" departments
look out for violations such as encroanh
ment on the public highway and for nom
payment of taxes. There is room for
trouble in this latter department, for the
law provides that property sold for taxes
may. be redeemed within twenty years.
Therefore no matter how many times IL
haa cha
originally can claim II by payment OF back
| taxes, within that period.
The street department. finds out II all
necessary streets are opened, and IL there
are to he any Widenings in the future
judgment day arrives when the clos
ing department" gets hold OF that title.
Seller and buyer are brought together.
and II all appears to be well the owner is
| divorced from his land and the new union
entered into, for better, for worse.-New
York Sun.