If you’re purchasing or selling a home, you may have heard the term “abstractor” come up a few times. A land abstractor, or title abstractor, is an important part of the closing process. But what is a title abstractor?
At its most basic definition, the role of the title abstractor is to perform a property search. At Liberty Title, we offer in-house abstracting services to help facilitate a smooth closing process. We’ve put together this guide to explain the role of a title abstractor and discuss the important service they perform.
It’s All About the Paperwork
The reason abstractors are necessary is because of paperwork. Your local community government helps to protect its citizens’ property rights by tracking titles and sales as land and property is transferred. This helps protect the rights of individuals over the course of many generations.
However, the amount of information your local government tracks is astounding, and sometimes human error or even fraud can cause a glitch in the system. That’s why title abstractors are so necessary to protect your rights if such an error should arise.
Here are a few of the important services they provide:
1. Perform a Property Search
Essentially, your abstractor’s primary job is to delve into the sea of public records and find anything and everything pertaining to your property. This helps make sure the seller has the legal authority to sell a home, as well as ensure the property is exactly as it was described in all legal documents. They also make sure there are no liens that need to be cleared up.
2. Verify Information
The information is assembled and provided to the Title Examiner for review and analysis along with any notes or comments the abstractor wants the examiner to address or be aware of.
3. Address Problems that Arise
Revisit the tract or public records to respond to any questions or concerns that the examiner may pose to the abstractor after reviewing the assembled information or to locate any additional requested information.
Minnesota Title Abstractor Services
There are a lot of moving parts during the sale and closing of a property. Fortunately, our land and title abstractors are there to make sure things go as easy as possible.
Whether they’re updating a property’s records or finding a title error, their roles can’t be overstated. When you’re ready to close on your home, the title abstractors at Liberty Title are here to help. Call us at 763.494.0340, or contact us to learn more.