Browning chief. [volume] (Browning, Mont.) 1941-1953, 1944-02-25

A BSTRACTING of titles is strictly
n an American institution, born of
American traditions and fostered by the
judicial branch of our Constitutional
form of government, having its incep-
ton at about the time of the organiza-
ton of the original thirteen states in
one form or another, later developing
to its present status, with slight varia-
ton OF methods in some states, but
generally recognized as the only sound
method of making comprehensive de-
termination of real estate title or own
ership.
An abstract OF title prepared from a
tract index is document which con-
tains in short or abstract form all the
essential information of record in the
public offices which affects the title or
rights of ownership in given tract of
land. The purpose of an abstract is to
enable anyone interested in the title to
land, to determine its sufficiency with
out reference to the original sources for
information-that is, the public records
established by statute. An abstract of
title is evidence of your rights and the
character of your title. 1t should be full
and complete enough in itself to enable
a lawyer to pass upon the title, neat in
appearance, durable in construction and
impress one with confidence.
The best advice anyone can give is to
always have an abstract Of title down
to date whenever you buy, sell, mort
gage or loan money on real estate.
It should be compiled from tract
index and the county records by an
abstracter authorized by the State of
Montana to make abstracts. You may
select an abstracter or abstract company
who is a member of the Montana Title
Association with confidence.
Evidence of Title and Ownership
Definitions herein are general and
statements subject to change by agree
ment.
Title to real estate may be passed by
deed, will, inheritance. or court pro-
ceedings.
In general use in Montana, deeds are
of four kinds: warranty deed, special
warranty deed, grant deed, quitclaim
deed
Warranty Deed
Warranty deeds warrant against the
claims of all persons and should be gen.
orally demanded. They are intended to
protect the purchaser against loss on
account of taxes, liens, mortgages and
defects in title.
Special Warranty Deed
This warranty or protection may be
limited by agreement and such agree
ment should be stated in the deed
Grant Deed (Code Section 6S74)
IooJ &c bo fH nm
veying is the owner of the property and
neither the maker nor anyone claiming
under him has done anything to en-
cumber same.
Quitclaim Deed
Quitclaim deeds may be used to re-
lease any claim of the maker or convey
an interest in the property.
Wills
A will, when admitted to probate by
the court having jurisdiction, passes the
title to the party or parties named
therein as devisees, subject to any pro-
visions contained in said will.
Inheritance
(Title to real estate on the death of
the owner leaving no willy Descends by
law to surviving husband or wife and
surviving children of deceased and sur
viving children of deceased child of
said deceased.
In case of neither surviving husband
or wife, then to the child or children
and surviving heirs of a deceased child.
In case of neither surviving husband or
wife or children, then to heirs of de-
cedent.
The law of the state where the real
property is situated governs the descent.
Court Proceedings
Foreclosure, partition, condemnation
are the principal court proceedings af-
fecting the passing of title.
Taxes Code Section 215S
The lien for taxes for the current year
attaches to real estate on the first Mon
day in March.
Payment of taxes may be fixed by
agreement between seller and buyer.
The maker of warranty deed agrees
to pay all liens and encumbrances on
the property at the time of the eXecu-
ton and delivery of the deed. If taxes,
mortgages or other liens are intended to
be paid by the purchaser it should be
so stated in the deed. For example:
The maker of warranty deed after
II o'clock noon on the first Monday in
March (Which is the time after which
the lien for taxes attaches) is liable for
the payment of delinquent taxes and for
all taxes for the current year. The stat
ute of Montana provides the first pay
ment of current taxes may be paid
without penalty or interest on or before
Nov. 80 of the same year and the second
payment may be made without penalty
or interest on or before May 81 of the
following year.
Names
If you already have title to property.
continue using the name by which you
hold this title in future real estate
dealings.
A good practice is to use your given
name, your middle initial, if you have
one, and your surname-such as John
W. Doe-Jane B. Doe, never Mrs. John
W. Doe-reason: tickle husband might
divorce his wife, remarry, and the new
wife becomes Mrs. John w. Doe.
Description
Be sure your description is correct
The best source of information is your
abstrscter. If the description is copied
from an old instrument, it should be
checked carefully to see that it is cor
rect. Never use description from such
"a Al.