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24 TlLeRealtA Blue Book of Aaklania
I ltles
Bv SENAToRN. W. THoMPSoN
ORICINAL PA'IEN'I'S
. T h e A I F , . . r n D l a , ,o i ! - u \ n , m . r . t c o . t s r I. r t A t p : t r i r t , . a c l ,. r ^ 1 .
s h a t t h ^ v e p t A . . ' r ' I i . o , i r o l o \ . r r h a j r . t i s t r : o r . o $ , r , I . r l ^ ; 1 ,i,n . L . . r -
b m r c p . ' r : I n f a r , . d J . , . . . i . ^ n L t . , . o r r I . r : i.i r l r i i c b o . L r a r . .s L b _
J e c lo r l ) l o l h . p r , \ , s i o r , s o i a n ! . \ , " i r , - t , . e : l r rn o i x t . 2 s t h p s ; p r o -
v r so n s r ' 3 y f l n t r) . \ 11,ri).islr..rrt,ir']a aw nlrh" la||d,,,J;.nn_
s r q u 6 . r ' r rs J t i . r . - . 1. . l l I . \ m r,t,r^5iji^..\. Or).iI 'i" i drr..,
1 l ? ) ' n l a ) r o . t g f p n sr ' l $ t l ' a s n " , t i o , h F . n r r j I t e r . . . T l . : s
L,rir,c.r,le
0 f g o ! e | n . r r e r ,il\ r l a r r r \ : l . o d L t l , I r r i t p dS . . . SLl,.am"r-oud
' n I e . p n r L l n . ; s i o , r sl h ^ l d r s t \ p A t , . A , . . " "
RECONDING
LAND OWNERSIIIP
The inpo'-taDce of indirldual or'Iership of JaDalas an ircerrtive to
l h e p o r 1 1 e n . n lu p b u r l d i | | gr r d i r . n | o v ^ . r r a r ,or , t h " $e., i,tr
r F r o g r T p d . I o p f o v r d ^ n t r e r n . i r , r p n rp u b l i . r p , o " d o" fo us u
n cr rt . yu w n p r s h p
t-
Tht Ileall.! Bhc Boolr of CIlilrlnl L
ihc rerording system $;as first established and at a lalel' datc the r.eg'
istlation plaD irtroduced irl somejulisdictions.
'l'he r.ecolding st.stcm, established pliol to the forlr:riio! oi ihe
Union, may fajrll'be telnled the original Anretican systen and is iD
use in evell strtc. Thc basicDrirciple underlying this sIStcm is that
thelc shall be tr'rnsoibed ancl peunanentl! kept as :r public r'ecold in
thc nlarnel' Iequiled br la\l' in sone designated public office copics o{
eyery tlansfcr', irlclrmbran(e, lien, judgrncnt ol declce all'ccting title
to propertl'arrd thlt there should also bc plepalecl and kept i such
ollice jDdices o{ everi' surh instlument, aDd. further', that these
records a d irdjces shall bc open to public iDspection at usual business
houls, thus affordirlg oppodunity to any interested Delson to ascel-
tain at anl'time the condition of thc r'ecor'd titlc to ary palticLrlal
propetty. Thc cost of such tlanscliption and indexing is bolnc br
the party lequestiDg the sel'\'ice, but the dutl of mnking nnd pcr'
nrrncnth pleser\'ing such re(otd is a pubti( funclioD. Whcn so tran-
scljbed, the oligirlal Dapers rtc, err(ept in spe.iial cases. retulned to
the par.tiesentitle.lthereto rnd the tra scribcd topr, \rith theindices.
folms the public rccot'd.
THD RNGIS'TNATION SYSTDI{
IITONL]IIIS
I,.\RI,' CAI,IFORNIA
FoI n co|sidc|ablel)er od lollo$irlf the ch:usc ot' ltrLgth{ro $N
much conlusionrnd urlrert.iiDt! fespe(iirg.'lilies. lfler' .r peljod
of militrrt. idministt:ltion nlrdel fcdcrxl corlrol. thf sfrt1] gotef'i
meDt$as olgnnizc.l rlnd inrnrodiatclradorrtc.lllre conrn)unil]'i)r'otl
€r1ysysteDr, then fir'mil est.rblished Lr |)ns ustls! ur.t1)r'thelbnref
goyelnlnents.n{:1riIclninlsto priv.rtc land srnrts lvcrt fcjfctcd. Thr'
activityincideniio the discovelr'ol told Lr)|lshl DLlllrclo'-rs Ilolrlems.
It {",1squite nrLturallhat LLndert[esc fi|runrstrnccs doul)ls nrcsc ns
to the sour.LresstLr.l stabilltl'of titlcs to L!r.l rLrd nl :1r o.ult'drlc
abstlactolsand e\Itnrir€r'sol titlc besnlrto iryeslisrLte'lrrd jJ.lssupor)
thesufficiencl'olthfsc. Folmolcth.u fiflt )caIS, irLconre(tioDNitlr
placlicall:' cver',\'tr:r.ns:1ct:orir]\,olvnlE cith€r' a salc ol incLLmbrtlnco
ol land i Calilolni.r, ihc Iccor'd title to thc plop{I i\' in\ol\'e.l h:Ls
beencarc{ullr-cx.Drnrcd. Pclhrps in no othc) st.rtehrs therc brerl
maintaiDed so romplcte.l roror.t ol the litlc to 1r'rl Dr'o]]r.r't:
.
,\tssTE,{.(i'|S
01, fl1Lil
ID.1l1r'e.rlcsl.rteir,]lrsr(ti(r)s. \rtrcthel in\o1\'injt purchnse of
loaDsupon the sccurit-v of lard, it h.1s bcen rcccss.u,\-to s^tisfv thr
prospectivcpulchasel or nniestof ihnl the tiU. to thc plopeltx \-as
good. In enrl) d.ils this \1,rsr conrt):urlt:!clt'sinrlr1e ploceediDg,as
examinationof but {cn-p:rpcls \1.asIcqui}cd and thelc was flequently
genelal colnnlunit]' knolvlcdge :rs to ownership of ln ds, thc popuh-
'l'he
tion then beirg mo]'e strble thnD rt t)r'eseDt. iDcl.e;rse in thr)
volume of r'ccor.dslcndeled necess:lr'] sone conle|ierll for'rr {or l)re
sentingthe statlrsol lhe rerotd litle. This led to the ptepar':rtiolof
abstlacts. ,\ plopell)- t)repar'edrbstlict of lille lrr'esentsan cpitonre
of all thc.sscntirl clenrentsof each o{ lhe se\cul recolded irlstlu
mentsrficcting the title io lL r)r1r'ticula!tr'r(ll ol l:r d, so th:rt un:rttot
ney can leadill' detomine by exrmiDirlior whethcl the lAlious con-
vey^nces and ircu lbunccs hrve been cor'r'ectly executed. whcther'
any colrIt plocccdings sho\1'nh:u'e Leerrr'egular'l) Lrliel, \1.lretherany
liens disclosedhare been properl] srtisfi€d rnd ffo such €)iamin:t-
tion prepalc a opinion respectjDgthe cordition of the title. The r'ap-
idly ircrcasiDg lolrDDe ol rccords i.erds to render' lhe abstlact nore
exp€nsivc, both in DIep lrrior and horr ihe st \dpoirrtof the attor-
nefs fec for' in opjnion rDor the l.itle.
TirLE rNSlrnANCE
Title insulance has bcen intlodrced $.ithin the pzrst fi{t.\. yeals
and is now fir'mly establjshed. The fir'st companl' \ras olganized at
Philadelphi.L Use of title iDsurarrce policies lras occasionedby the
growiDg valne of real eslAte, particul.4r'l) iD the largel conrmunities,
the necessit}'of plovidiDg adequate p|otectiol 1or pulchasels and
ienders !,!'hele the consider':rlion \!:ls large and the comDlcxitics of
moden transrctions such as long time lenses, bond issues, tlusts,
buitdirg restlictiors, et(. The civil code ol Clli{or'nin plovides that
"Any wr'itten contlact oI irstlument pul.por.tjng to show
the title to reli Dlopelty. or ful ish infolmntion Ielative
thercto, {hich sh.rll in express telnls putport to insurc or
gualanteesuch tiUe or the cor'r:e(:lnessof such inlotmaiion,
shall be deemeda polict-of title irsulancc."
This leg:rl delinition of a polici' has beel uDheld Ly dccision oi
the SuDreme Coult-
A policy of title insur'ance is lhe Lnoadeslfolm of title plotectron
lhat can be {ur'nished. Companies tlnrsacting title insulance busi-
ness in Califolrria nle not onl)- undel supclvision oI the hrsLrr':rce
Commissioner ar)d lequiled io conduct their' business in stlict accoltl_
I ancc with the provisiorrs of lrw, but nust likel\'isc Dlaintain .r gLtar-
anty filnd on deposit\riih the Si:rteTIcasuIel and nLlst rrlsotlccurnu
late a sur?lus furd equal to 25 per cent of theil capital. lssuancc of
any single policy ivith a liability irl cxcess of thc conlpany's adnlitted
assetsis tt'ohibitccibt lulins oi ihe lnsLruDCeCornrrissioner'.
TRtisls
Tlusts iu le:r] p|opertJ'n1ay lall-full!-bc cr'eit€d in Califorr)i,L
tor onll a limited rlumber of plrlposes. Use ol the wold "trusiee,"
rvithout olher.qu.rlificatiorlin dealirlg with titles to real property,
is ill adfised. Notice rray thus be given of a tlust $'ithout disclos-
ing its scope, ol pulDosc, oI the powels o{ the tluslee. Conrnon la$.
tlusts so-called hrve been olganized irr lece|t treals es a srbstitute
for' colpolations. Much uncer'laiDty has been caused bt'lhe attempt
to tlansnct busincss thlough this nrediun, there beirg no spccific
provision ir the state la$' IoI such a plocedure.
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