The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1915-04-24

fers OF real estate. The amount or
money changing hands on transfers or
real estate is enormous, and the ques-
ton OF how to buy and sell Is of great
importance. The following instruc-
tions or condensed laws pertaining to
the transfer of real estate will there
for appeal to many.
All deeds and mortgages should be
carefully prepared; they must be sign
+, ed, witnessed by two persons. ac-
knowledged before Notary Public.
and should be promptly recorded in
the Register OF Deeds once. A seal
is required onlyswhen the paper is to
be recorded in another state than
where executed. In Michigan war
ranty deeds will not be recorded un-
less accompanied by a certificate from
the county treasurer that all taxes are
paid; such certificate will be obtained
by the Register OF Deeds IL Is cents
Is RENTED In addition to the fee for
recording the deed
Under Joint ownership by husband
and wife the entire title passes with
out probate proceedings to the sur
vivor upon the death of either. A con-
veyance by the survivor should recite
such survival.
A married woman may contract,
sell. transfer. mortgage, convey or de-
wise her separate estate In the same
manner and with like effect as though
she were not married. The property
of married woman in this state is
not liable for the husbands debts.
A widow in this state is entitled TO
dover. which by statute is now full
one-third OF all the lands owned by
her husband at the time OF his death,
subject OF course TO valid fncum-
brances. Dover may be barred by the
wife joining with her husband in a
deed or mortgage.
A husband has no interest in the
wife's estate and need not join in a
deed or mortgage OF her property A
single man or widower executing a
deed or mortgage should be described
as such.
An alien may acquire and hold
lands. convey, mortgage or devise
them the same as If he were a citizen
OF the United States
Mortgages may be foreclosed In this
state in two ways. either by statutory
advertisement or by proceedings in a
Circuit Court of the county in which
the lands are situated. Under either
method q total OF about fifteen months
after commencement of proceedings
is allowed for redemption. by payment
of the amount due under the mort
gage and the expense of the foreclos-
ure. A promissory note, collateral
with the mortgage. should be cancell-
ed and returned upon payment of the
mortgage.
Land contracts should provide for
an abstract and full warranty deed,
at the expense of the seller on COM
pletion of the contract II the seller
be married his wife should sign the
contract without fail, and 1t is adyis-
able that the buyers wife Qf any,
also sign. Notice of forfeiture and to
quit may be waived by so writing in.
TO the customary printed forms.
The 1911 law allowing one year for
redemption OF forfeited land contracts
was repealed in 1913. III is well TO
have contracts witnessed and ac-
knowledged; this entities them to rec
ord with the Register Of Deeds n de-
sired and makes the contract more
salable
An abstract OF title should be fur
nlshed by the seller before the papern
are passed An abstract In itself IL
not guaranty OF title as many peo-
pie believe. II does not pass upon the
title in any way but only contains
history OF the title The abstract
should be very carefully examined by
good attorney familiar with real
estate law. for defects In title are fre-
quentIy not readily discovered. A
good property may, intact, be quite
unstable because Of imperfect title
and many purchasers Of land UNI
knowingly buy law suits from failure
70 have the title properly searched.
For obvious reasons the abstract
should DC posted up to the day Or con.
vcyance.
Some apparent titles are far from
satisfactory Title based on adverse
possession Or tax deeds should be