Posted by HisHughness on 8/23/04 4:47pm
Msg #6552

Title abstractors

Title abstractors "run" the title, which means they will develop a "chain" of title: Who has owned the property, how it was transferred each time, whether there are any unsatisfied encumbrances against the property that would impair the ownership rights of a subsequent title holder, etc. It is based on that abstract of title that the title company issues its title insurance, insuring that whoever is taking title actually gets what they are buying.

I admire abstractors, in the same way that I admire proctologists. Both have to recognize, up front, that fundamentally their profession has all the glamor of hauling away the carcasses of the animals gassed at the animal shelter. A good proctologist is worth his weight in hemorrhoids. A good abstractor is worth her weight in rare metals.

I hope you folks will forgive me, but I'm sitting here chuckling most immodestly at the second line of the above paragraph because, you see, "fundament" is a synonym for "buttocks." I wish that had been a deliberate choice of word.

Reply by judyca on 8/23/04 7:20pm
Msg #6562

Chuckle... chuckle... I would like to add that it takes ALOT of work and training to become an abstractor. E&O insurance is around $3K a year. There has been a recent book published about the notary business suggesting that abstracting might be a good side business. It is more like becoming a notary is a good side business for abstracting.