START MICROFILMED 1985 UNIVERSITY OF CALIFORNIA - BERKELEY GENERAL LIBRARY BERKELEY, CA 94720 COOPERATIVE PRESERVATION MICROFILMING PROJECT THE RESEARCH LIBRARIES GROUP, INC. Funded by THE NATIONAL ENDOWMENT FOR THE HUMANITIES THE ANDREW W. MELLON FOUNDATION Reproductions may not be made without permission. - CU-B SN 005/6-1 THE PRINTING MASTER FROM WHICH THIS REPRODUCTION WAS MADE IS HELD BY THE MAIN LIBRARY UNIVERSITY OF CALIFORNIA BERKELEY, CA 94720 FOR ADDITIONAL REPRODUCTION "REQUEST MASTER NEGATIVE NUMBER $5-1709 AUTHOR: California. Title [nsumnce | and Tra st Company. TITLE: Title msurance.-- PLACE: San Francs Sco DATE: 1896 VOLUME F869 CALL 5¢ MASTER 35- NO. 3 NEG. NO. (709 California Title Insurance and Trust Company. S3 Title insurance: the protection it affords to purchasers of real .16 estate ... Information for buyers and mortgagees. San C3 Francisco, E.C. Hughes, 1896. (16) p. illus. 15cm. in cover 20cm. 98515 SHELF LIST Briss tie FILMED AND PROCESSED BY LIBRARY PHOTOGRAPHIC SERVICE "UNIVERSITY OF CALIFORNIA BERKELEY, CA 94720 JOB NO. 85 ls 53 =e 5 (dE REDUCTION RATIO E DOCUMENT | whe SOURCE THE BANCROFT LIBRARY —— et A — i A A = 10 Ble fz = tlk a lL = yo Ee l= = os = fle Iz i On MICROCOPY RESOLUTION TEST CHART NATIONAL BUREAU OF STANDARDS STANDARD REFERENCE MATERIAL 1010a (ANSI and ISO TEST CHART No. 2) flit lis Retake of Preceding Frame | abe California Title . Insurance’ gr and Trust Company TB - Loans money on real estate. Keeps™ buildings insured against fire. ‘Pays taxes for property owners. Examines and insures titles. Makes and continues abstracts. Draws deeds and mortgages. Attends to grading, improving and selling real estate. Holds property in- trust for individuals or syndicates. Acts as executor or administrator, Negotiates loaps. Buys and sells bonds and other securities | Acts as a clearing house in tran . ‘property and relieves its patrons of all | trouble and annoyance in making o out LITLE INSURANCE | THE PROTECTION IT AFFORDS TO PURCHASERS OF REAL ESTATE “TITLE INSURANCE LIKE FIRE INSURANCE, IS A NECESSITY OF MODERN BUSINESS” INFORMATION FOR BUYERS AND MORTGAGEES SAN FRANCISCO! KE. 6. HUGHES, PRINT, 511 SANSOME ST. 18086. The california Title Insurance and Trust Company 4 Loans money on real estate. Keeps buildings insured against fire. "Pays taxes for property owners. Examines and insures titles. Makes and continues abstracts. Draws deeds and mortgages. Attends to grading, improving and selling real estate. Holds property in trust for individuals or syndicates. ‘Acts as executor or administrator. Negotiates loans. Buys and sells bonds and other securities. property and relieves its pairons of all trouble and annoyance in making out and recording deeds and other papers. Transacts a general trust business. Acts as a clearing house in transferring. Es Retake of Preceding Frame TITLE INSURANCE | ee — THE PROTECTION IT AFFORDS TO PURCHASERS OF REAL ESTATE “TITLE INSURANCE LIKE FIRE INSURANCE, IS A NECESSITY OF MODERN BUSINESS” INFORMATION FOR BUYERS AND MORTGAGEES SAN FRANCISCO: KE. 6. HUGHES, PRINT, 511 SANSOME ST. 1806. 9¥5/5 CALIFORNIA oe TITLE IXSURANGE AND TRUST COMPANY “5 MILLS BUILDING. J { os A. San Francisco, Cal. CAPITAL, PAID UP - - - , - - $260,000 LEGAL RESERVE, PAID UP - - & 26,000 OFFICERS CHARLES PAGE : President OLIVER ELDRIDGE Vice President H. D. LAWRIE Secretary THE ANGLO-CALIFORNIAN BANK, L.’D. - Treasurer L. R. ELLERT Ta [a1 J HE NT J) DIRECTORS HENkY L. Davis P. N. LI1LIENTHAL OLIVER ELDRIDGE CHARLES PAGE R. T. HARDING Joun R. SprING S. W. Levy J. L. N. SHEPARD L. R. ELLERY — ATTORNEYS PAGE & EELLs AND R. T. HARDING S88, MAXIMS — A chain of title is no stronger than its weakest link. ————————————— A perfect record title, by facilitating the transfer of rea estate, adds to its value. ————————— An abstract of title is valuable only when absolute dependence can be placed upon its corsectness. eet False impersonation, invalid powers of attorney, insane grantors and forged deeds make title insurance an universal necessity. ———————————————— Unless the owner of a piece of real estate has a perfect record title the courts will not force a purchaser to take it under a contract of sale. ————————————————— +s]’]] make assurance doubly sure and take a bond.”’—Macbeth “Band Titles © 7 How to Make Them Safe. = There is nothing in the nature of business which so perplexes the average man as the subject of land titles. In no other matter affecting important interests is he compelled to rely so implicitly upon the opinions and advice of others. It is easy to secure what is called an ¢¢ abstract’ of the title to a piece of real property; but to the unprofessional eye such a document means nothing but more confusion. It is easy also to discover a com- petent attorney, who for a fee, will examine the “ab- stract” and declare that upon its face it constitutes a perfect record title of the property of which it purports to be a history. ~ But to rely upon an “abstract” and a supporting opinion so obtained, though seemingly the perfection of caution, is still unsafe. A title perfect of record may be worthless in JSact. Indeed, it is an axiom of the real estate business that “All losses in titles arise in those which are sup- posed to be good.” An “abstract’’ is what it purports to be, a history of the title, made from the public records. Such a his- tory enables a lawyer, after examination, to say whether the title as it appears of record is good. The abstractor is responsible to the lawyer for the accuracy of his work, and the lawyer is responsible to the client for his opinion, until a period of two years has elapsed, when the ¢¢ Stat- ute of Limitations,” bars an action for damages against either, But neither is responsible to anybody at any time for yecorded instruments which are perfect in appearance but void in fact. Perils Attending Real Estate Transfers. A perfect record title to a piece of real property as given by an ‘‘abstract’” may be defective for any one of the following reasons: 1. One of the deeds which appears in it may have been forged. 2. Another deed which appears in it may have been made by an attorney-in-fact whose power was fabricated. Another may have been executed under a power of at- torney after the death of the principal, which renders it void. 4. Another may have been executed by an insane person. Another may have been made by a person of the same name as the owner, but having no interest in the property. 6. The entire title may depend upon a foreclosure sale in which all the parties required by law were not joined in the action. . There may have been probate proceedings in which a minor heir was not represented. 8. One of the sheets may have been 1emoved from the ab- stract, upon which appears an old mortgage, assessment or judgment affecting the property. . The seller, or some prior grantor, may have sold the property without joining his wife in the deed, in which event the wife may appear subsequently and declare that it was com- munity property and that no “valuable consideration” was paid for it. In short, there may be many defects in a title which do not and cannot appear in an ‘‘abstract,” but which render a deed to it void, or voidable, and worthless. The opinion of an attorney is no security against loss. Nor is a ‘Certified Abstract’ any better guaran- tee. The latter merely informs the holder that the rec- ord has been correctly transcribed. Yet as already stated, a #itle may be perfect of record and worthless in law. How to Attain Perfect Security. There is but one way by which to attain perfect se- curity in purchasing or taking a mortgage upon real property. Have the title insured. Title Insurance is a bond under seal promising, on behalf of a responsible corporation, to pay any loss which may arise by reason of a defective title. The CALIFOR- NIA TITLE INSURANCE AND TRUST CoMPANY, which is incorporated to do this kind of business, possesses com- plete abstracts of every piece of land in the City and County of San Francisco. It has cost to prepare these documents a large sum of money. Their possession, however, enables the com- pany to thoroughly test every title brought to it for ex- amination, and, with comparative safety, to guarantee the correctness of its examinations. In other words to insure its clients against loss arising from fraud, acci- dent, mistake or ignorance. The CALIFORNIA TITLE INSURANCE AND TRUST CoMPANY has a paid-up capital of $250,000, and a re- serve fund of $25,000. Its Directors and Officers are citizens well known in San Francisco, whose individual reputations are a guarantee of its mode of transacting business. Its ‘‘abstract” plant, is constantly kept up to date by a large staff of skillful employees who are under the supervision of experts. . These abstracts never go out of its possession. They are in fire-proof vaults and are beyond the reach of any person who might be tempted to tamper with them. Thus, so far as human care and ingenuity can se- cure perfect accuracy in the transcription of public rec- ords, and safety in their subsequent custody, it is here effected. Add to all this the fact that the company re- quires 1ts own and especially trained and qualified law- yers to pass upon every title guaranteed, and it will be seen that the most perfect protection is afforded its clients. In fact, the Company #nsures its work. It does not present buyers of real estate with an opinion based on the correctness of an “abstract,” but it guarantees the accuracy of its searches and assumes all the risks. . If a purchaser is subsequently involved in litigation, this contract of insurance requires the corporation to de- fend the title. In the event of a mistake having been made, the Company reimburses the insured. Conditions of the Policies. Attention to some of the conditions of the policies of the CALIFORNIA TITLE INSURANCE AND TRUST COM- PANY will bear out these assertions: I. The holder is not only insured but the interest of his heirs is protected. II. The premium charged is not annual or continuing. For a flat sum the Company undertakes to guarantee its client and his heirs. III. The purchaser is insured against any adverse claim, and thus the Company assumes the risk of forgery and false impersonation. IV. Lapse of time does not relieve the Company from its liabilities. Its obligation accrues when the defect, liable to cause a loss to its client, is discovered, Then he is defended and the Company pays all costs and lawyers’ fees. V. If at the end of such litigation, the title is decided by the Courts to be defective, the Company hands the insured the amount called for by his policy. Trouble and Annoyance Obviated. By doing business with the CALIFORNIA TITLE IN- SURANCE AND TRUST COMPANY the purchaser of real estate is relieved of all trouble and annoyance in his transaction. Upon deciding to buy a piece of property he may call at the office of the Company in the Mills Building and leave his check, or cash to the amount agreed upon as the purchase price. He may then inform the seller or his representative, the real estate dealer, that upon the issuance of a policy of insurance guaran- teeing the title by the CALIFORNIA TITLE INSURANCE AND TRUST COMPANY, the money will be ready. Every detail of the purchase is attended to by the experienced employees of the Company; and upon the transfer being made, the purchaser receives his deed and a policy of insurance guaranteeing that the title is good. When it is considered that the process is not so expensive as the old plan of searching a title, paying for an abstract and securing a lawyer's opinion upon it, the intending pur- chaser will readily see the advantages of the new system. By empowering the CALIFORNIA TITLE INSURANCE AND TRusT COMPANY to transact his business for him he will avoid much annoyance, apprehension and un- necessary expense, besides in the end having placed in his hands a title insurance policy which protects him and his heirs from every latent and obscure defect that may ever afterward be discovered in the title. In addition, the holder of a title insurance policy in the CALIFORNIA TITLE INSURANCE AND TRUST Com- PANY, 1s enabled to borrow money from almost any sav- ings bank in San Francisco with little trouble or expense. Instead of a new search, or the usual abstracting and at- torney’s fees, the holder pays a small sum for continuing hye pees 24 Showa “0 agreement to assign to the ank. e bank then simply apprais the loan is made. plyiponiiethepiopetm an The following banks and loan associations accept the guarantee policies of the CALIFORNIA TITLE INSUR- ANCE AND TRUST COMPANY: German Savings and Loan Society, San Francisco Savings Union, French Savings Bank, Columbus Savings and Loan Society, Savings and Loan Society, Mutual Savings Bank, Eintracht Spar und Bau Verein, Germania Building and Loan Association, Pacific Coast Savings Society, Pacific States Savings, Loan and Building Company, Security Savings Bank, Continental Building and Loan Association. Abstracts. If for any reason an intending purchaser does not desire a guarantee policy, but merely wishes an abstract of title, he should not overlook the facilities of the CALI- FORNIA TITLE INSURANCE AND TRUST COMPANY for ac- commodating him, It is important that every purchaser should either possess a guarantee policy or a correct his- tory of his title, and if his attorney is wise he will advise him to order the latter from this Company. Not only has the Company a complete transcript of the records of this City and County, but its books are so planned that any break or weakness in the chain of title to a specified piece of property is worked out on a system of maps and plats with perfect exactness. This system is so accurate that if a deed or mortgage is recorded containing an er- ror in the description or name of the owner or mortgagee it is detected instantly. There are no bad titles in the City and County of San Francisco which can stand this rigorous test. So an abstract made by the CALIFORNIA TITLE INSURANCE AND TRUST COMPANY is certain to be the best that can be procured. A Commercial Title to Land. Every purchaser of realty expects to have, and is en- titled to have, a good “commercial title.” By a com- mercial title is meant one that can be easily and economically transferred. One of the most valuable incidents of the owner- ship of land consists in the ability to mortgage or dis- pose of it without difficulty. Every business man knows the value of an unincumbered title to real estate and the security it affords him in all his operations. There is but one way to secure such a title. Take out a policy in the CALIFORNIA TITLE IN- SURANCE AND TRUST CoMPANY. The cost is trifling, EN as inquiry at the office in the Mills Building will demon- strate. Indeed, the cost is less than by the old system. Make inquiries and see. Special rates given in large transactions. The Trust Department. The CALIFORNIA TITLE INSURANCE AND TRUST COMPANY is incorporated under the laws of California to act as trustee, assignee, executor or financial agent, to manage estates, handle private funds, buy and sell se- curities, negotiate loans, or transact any trust business. The advantages of employing a company in a trust ca- pacity are obvious. A corporation is not subject to the accidents that in- capacitate an individual trustee, whose absence, sick- ness or death sometimes causes serious delay, incon- venience or loss. In addition to the bonds required of trustees, the security offered by its paid up capital of $250,000 makes the CALIFORNIA TITLE INSURANCE AND TrUsT COMPANY a particularly safe custodian of all private affairs. Meortgagees. Capitalists who loan their money upon real estate should not overlook the dangers they avoid when they require their borrowers to take out a policy of insurance in this Company. Such a policy guarantees a perfect legal title, and money loaned upon a perfect legal title is as safely invested as anything can be in this world. It is a protection against blackmailing law suits, defective deeds, invalid declarations of homestead, the claims of hn i aE minor heirs and liens in general. By any of these things a mortgagee may lose his money. A recent decision of the Supreme Court illustrates the risk assumed by capitalists who make loans upon de- fective titles. A man residing in San Diego County filed a homestead upon a piece of realty and afterward ob- tained a loan of $4000 from the Security Loan and Trust Company of Southern California. In the declaration of homestead he certified that he was the head of a family and intended to live upon the property. The woman re- siding with him as his wife joined in the mortgage. After his death, in default of payment, the bank fore- closed, whereupon it was developed that the woman who had signed the mortgage was not his wife but his mis- tress. His lawful wife had been confined in an asylum for the insane when the mortgage was executed. The Court held that upon the death of the husband the home- stead, by operation of law, vested in the insane wife, and the bank lost its money. Capitalists who make loans only on insured titles as- sume no such risk as this. The policy places all the risk upon the insuring corporation. Loan Department. The Company loans money upon real estate at the lowest current rates of interest, being authorized by law to transact this species of business. Borrowers may al- ways be sure of securing a loan upon their holdings with the least possible delay. Loans will also be nego- tiated upon improved real property. The Company has unsurpassed facilities for drawing and recording mortgages and attending to all the details of this im- portant branch of banking. I } i i References. French Bank, M. Morgenthau Company, Society of California Pioneers, Pacific Telephone and Telegraph Company, Firemen’s Fund Insurance Company, Cushing-Wetmore Company, Columbus Savings and Loan Society, The Company refers investors to any prominent financial institution in San Francisco, and to the follow- ing well known corporations, individuals and firms who patronize its title insurance and trust departments: CORPORATIONS. German Savings and Loan Society, San Francisco Savings Union, The Savings and Loan Society, Security Savings Bank, Mutual Savings and Loan Society, Humboldt Savings and Loan Society, Mutual Life Insurance Company, Germania Building and Loan Society, Argonaut Mutual Building and Loan Association, Mutual Savings Bank of San Francisco, Capital Building and Loan Association, Pacific Coast Savings Society, Pacific States Savings, Loan and Building Company, San Francisco Home Mutual Building and Loan Association, California Guarantee Investment Company, Earl Fruit Company, Ruby Hill Vineyard Company, San Francisco Stock Brewery, Young Men’s Christian Association, Italian Mutual Benevolent Society, Italian-Swiss Mutual Loan Association, Anglo-Californian Bank (Limited), Real Estate and Development Company, Pacific Improvement Company, Continental Building and Loan Association, > a RA SARL Ae Ko Belvedere Land Company, Ice Consumers’ Company, San Francisco Gas Light Company, Omnibus Cable Company, Pacific Rolling Mills Company, Wells, Fargo and Company, Union Iron Works. FIRMS AND INDIVIDUALS. Thomas Magee, John A. Russell, Daniel Meyer, O. D. Baldwin, B. E. Henricksen, Lloyd Tevis, Henry J. Crocker, John Center, Willis E. Davis, Claus Spreckels, Henry T. Scott, Oliver Eldridge, John T. Doyle, S. W. Cowles, Hinkel Brothers, John L. Bradbury, Alvinza Hayward, George Chisrune, William F. Herrin, Antoine Borel, A. S. Baldwin, Carl D. Salfield, P. J. Martin, George H. Buckingham, Joseph Comerford, Solomon Getz, Egbert Judson, Irving M. Scott, Charles L. Fair, Mrs. Annie Donahue * W, J. Gunn, Baltour, Guthrie & Co. William Cloud, C. C. Butler, Charles C. Bemis, M. H. De Young, Paolo De Vecchi, L. P. Drexler, Wendell Easton, Monroe Greenwood, R. P. Hammond, Jr., C.J. Hendry’s Son & Co., Eugene Le Roy, Georges Le Roy, E. J. Le Breton, Isaac Liebes, Gustav ‘Niebaum, J. J. O'Farrell, Henrietta I. Selby, Gustav Sutro, Herman Shainwald, Adolfo de Urioste, O. F. Von Rhein, Samuel B. Welch, George Whittel, Mayor Adolph Sutro, And many others equally as prominent. Wbat tbe “orth Hmerican Review Says of Title Insurance. & “The Title Insurance system, with its locality index, is exerting the most powerful influence for the permanent advantage of the real estate interests. It is in the general and quick convertibility that is rapidly giving to real estate as property. Real estate has always been De most steady and certain investment to be had, but been shunned by many because they were’ so hempered in dealing with it. Banks have disapproved llateral and National ‘banks have been forbidden by: “statute to accept it, and all because the question of % : : title' Was never settled, and tedious” deldys and great expgnses were involved in every ‘consideration ofit. By imply’ settling the question of title once for all, and “having the Title Insurance corporation: put_its Stamp - ‘upon it, the one controlling obstaelé to the availability of real ‘estate as ready capital, | has now been Temoved n | Retake of Preceding Frame Paolo De Vecchi, L.. P. Drexler, Wendell Easton, Monroe Greenwood, R. P. Hammond, Jr, C. J. Hendry’s Son & Co., Eyene Le Roy, Georges Le Roy, E. J. Le Breton, Isaac Liebes, Gustav Niebaum, J. J. O'Farrell, Henrietta I. Selby, Gustav Sutro, Herman Shainwald, Adolfo de Urioste, O. F. Von Rhein, Saynuel B. Welch, George Whittel, Mayor Adolph Sutro, And many others equally as prominent. NS. 7 ZN What the ‘““Morth Emerican Review” Says of Title Insurance. & ““The Title Insurance system, with its locality index, is exerting the most powerful influence for the permanent advantage of the real estate interests. It is in the general and quick convertibility that is rapidly giving to real estate as property. Real estate has always been the most steady and certain investment to be had, but it has been shunned by many because they were so hampered in dealing with it. Banks have disapproved it as*collateral and National banks have been forbidden by statute to accept it, and all because the question of title was never settled, and tedious delays and great expenses were involved in every consideration of it. By simply settling the question of title once for all, and having the Title Insurance corporation put its stamp upon it, the one controlling obstacle to the availability of real estate as ready capital, has now been removed.” END OF REEL. PLEASE REWIND.