Evening star., 1928-12-22

James j. beCkCTs shin.
Since buyers of land make thell
purchase at their own risk, it Is vitality
important that they have knowledge OF
everything that may affect the validity
Of the title. .
Modern title companies filed TINS
need by the issuance OF formal Eltie
papers certifying to the condition OF u.
tie IS it appeared from examination OF
the land records, said the speaker. The
paper most commonly used, known as
title certificate, protects the purchaser
from any defect that may appear OF
record and not reported in the certin-
cate of title, he explained.
Title Policy Needed.
II was pointed out by Mr.. Becker
that there are certain things affecting
titles which do not appear OF record,
such as incompetency to execute deco
due to lunacy or infancy and forgery
and adverse position. These defects,
while not a matter OF record, are coV-
cred in another form OF certincate'
known as a title policy which, In erect,
is, an insurance against defects. In
cases of protection to mortgages a
special certificate, known as mort
gagee certificate, certifying that the
particular mortgage is good is ire
uuently used by money lending sources.
One of the most important links IN
chain of title, according to Mr.. Becker,
is the transfer of the fee which is &C
complished by the execution, delivery
and recording of the proper deed OF
conveyance Deeds in respect to their
preparation and acknowledgement must
follow the law prevailing in the place
where the land itself is situated. Every
detail in respect to the phraSeology,
signature, acknowledgement and GER
tificate must conform to the local legal
requirements, he stated.
"Any deed conveying real property in
This District, executed, acknowledged
and certified as required by law, and
delivered to the person in whose favor
the same is executed, takes effect from
the date of delivery thereon, except as
TO creditors and subsequent bona flde
purchasers, and mortgages without no.
tice of said deed, and others interested
in said property, it only takes effect
from the time of its delivery to- the re-
corcier of deeds for record.
Record Deed Promptly.
"a deed may be recorded at any
time after its delivery, but in order to
protect the purchasers from creditors
Oh lIc S1duVOL GNU AAvAA o-DoSAS0AA =
purchasers without notice, the deed
should be recorded as, soon as possible
after its delivery.
"The effect Of recording deed is to
give notice OF the existence and con-
tents of the deed to all persons who
deal with or on credit of the title con-
veyed. The notice thus afforded is
called constructive notice. because 1t
operates to give notice that the trans
fer has been made.
Notice brought home to subsequent
purchasers or mortgages from any
other source has the same effect as re-
cording or registration, and IN this
District the possession OF real estate
under apparent claim OF ownership is
notice to purchasers Of the interest the
person has in the fee, whether legal or
equitable in its nature, and OF all facts
which the proposed purchaser might
have learned by due inquiry. A deed
may be delivered to a third person not
a party of it, to be by him delivered to
the grantee upon the performance OF an
act or happening Of an event. Such
delivery to a third person is called an
escrow.
"A deed delivered to the grantee
himself will not be an escrow, even
though accompanied with an express
condition to be performed before 1t is
to take effect. Where the grantor OF
a deed retains the right of control over
it. Notwithstanding its deposit with a
third person, with instructions to de-
liver it to the grantee upon his COM
pliance with specified conditions, is not
an escrow. An escrow, which has been
signed, sealed and deposited upon a
valuable consideration, cannot be re-
voked or withdrawn by the depositors,
except according to the terms OF the
agreement and deposit"