Browning chief. [volume] (Browning, Mont.) 1941-1953, 1943-04-16


Stracter or your lawyer.
@. If l get an abstract to a piece of
property and get the property is that
all that is necessary?
A. No. Be sure the title disclosed by
the abstract is good merchantable one
and be sure the conveyance to you is
by the proper parties, properly exc
cuted and contains correct description
of the property.
G. Will complete abstract prepared
by a competent abstractcr using his own
tract index show merchantable title?
A. No, not necessarily. Such an alb
stract will show only what is of record
For example. if you should have in your
possession an unrecorded deed convey
ing the property to you, the abstract
will not show title in you.
Q. Should depend on any other alb
stract to show the condition of my title?
A. No. Because it does not protect
you against loss - further. when you
sell, you will probably be required to
furnish a complete abstract.
@. Why should have an abstract?
A. Because "the titles the thing"
Buying, selling, mortgaging or otherwise
dealing with real property is based upon
the title to the property and not upon
the dirt or other material of which it
is composed An abstract will reflect
the true record title.
The satisfaction or peace of mind that
your title is good will be worth many
times the cost of the abstract.
To be able to satisfy one who loans
you money on the property as to the
sufficiency of the title.
To save the expense of buying a COM
p1atp abstract ,rrha,, H.,
cause you took the property without an
abstract don't think the next fellow
will. Be safc-get complete abstract.
@. What do you mean by certified to
by an abstract company?
A. A certificate is attached to the
abstract by the maker in which it is
stated that it contains true and cor
rect abstract of the record title. By this
certificate the maker of the abstract,
under the Montana law, is bonded to
pay any loss or damage suffered by
reason of errors or omission in the alb
stract, which payment is secured by
a S5,00000 bond.
@. Does an abstract have to be re-
corded?
A. No.
@. What do l do with my abstract
and papers?
A. Keep them in a safe place, which
means in place from which they can
not be stolen, destroyed by fire, water
or other causes.
@. When l buy real estate what
should do?
A. In order to avoid trouble and
expense in the future, have thorough
understanding of all matters connected
,tyifh tho y,,,r,1,,ea (,~,1,,I;-, H., Co.
nishing of an abstract of title). Have
the deed, mortgage and any other pa
pers made out by lawyer or someone
competent to do this work and be sure
that all matters agreed upon between
you and the seller are incorporated in
same and that the description of the
property is correct.
II any part of the sale and purchase
is to be completed at later date, then
contract of sale should be drawn
setting forth exactly what you have
agreed upon as to payments, time of
payments, instruments to be executed,
abstract of title to be furnished and
all other matters.
IT,, O. WI, Who should should pay the cost of having
A. The seller, who should pay any
expense connected Herewith unless 9th
erWise agreed.
@. Should l pay out all the money
for the property before get a deed?
A. No. Never. Before final payment
is made, you should be satisfied that
the title is what you contracted for. A
sufficient sum should be retained to
insure your obtaining the title agreed
upon This amount will vary. If you are
in doubt-consult your lawyer.
@. What is deed?
A. An instrument used to convey title
from one party to another.
@. If the question, Can minor sign
deed" arises, what should l do?
A. Consult your lawyer.
@. Who signs the deed?
A. The owner or owners of the prop
erty, generally spoken of as the seller,
together with the wives of married men,
A married woman can generally convey
real property in Montana without the
signature of her husband.
@. Does a purchaser have to sign
the deed?
A. The purchaser does not sign the
deed.
@. When does the title pass by deed?
A. When the deed is properly exc
cuted and delivered.
@. How can l know the title is good?
A. By doing the things you have been
told to do in this article: Get COM
plete abstract of title. Have it examined
by your lawyer and obtain his written
opinion that it is good. The opinion may
show defects in the title and that it is
not good.
If the opinion shows defects and your
agreement with the seller calls for a
good merchantable title, insist upon the
defects being corrected of record and
get your lawyers opinion they have
been corrected and the title is good.
@. When do we close the deal?
A. AS soon as the terms of the agree
ment as to the title, payments, etc. have
been complied with.
@. Does deed have to be recorded?
A. No. But it should be Immediately
@. Why should a deed be recorded
Immediately upon its delivery?
A. The recording of the deed protects
your ownership and further protects
you against the loss or destruction of
the deed.
This applies to any instrument which
should be filed or recorded.