OCR Text |
Show o Ready to Write Title Insurance March 15 several months of organization work, the Intermountain Title Guaranty Company announces AFTER will be ready to write title insurance in Utah and Idaho after March 15th. The company lias already qualified with the state banking department. The day long looked forward to by buyers and sellers of real estate as well as those lending money on real property, has arrived. Utah and Idaho are at last to have an amply financed, able officered, fully equipped title insurance company, with more than $300,-00in capital stock subscribed. Within a few months, when all organzation work is completed, the company expects to have a capital and surplus of over $1,000,000. 0 An Important Intermountain Enterprise The importance of this announcement can hardly be Besides the invaluable service it will render in the title insurance field, it means the establishment of a new and important industry that should make substantial profits for hundreds of its founders and builders, and will eventually keep millions of dollars at home. Back of this industry stands more than 250 prominent intermountain business and professional people. These over-estimate- d. fore-sighte- d have invested their money as a pledge of confidence in this new enterprise. Scores of other founders and builders are being added every month. The list of stockholders includes prominent lawyers, bankers, abstractors and business and professional men in practically all lines of activity. From these stockholders will come to the company directly and immediately, large amounts of profitable business. This is a factor of great importance to the success of the company. To be Sure of the Title Insure It Title Insurance is the only complete protection against defective title. The old method of abstract of title and attorneys opinion does not protect the purchaser, the real estate man or the lender of money thereon, against any of the following defects: Forged deeds in the chain of title; deeds by an Attorney-in-Farevoked by the death or insanity of the principal ; deeds executed by persons acting under forged Powers of Attorney; deeds by a minor, an insane person, an embecile, or a person while drunk; a deed executed by one whose name is identical with that of the true owner, but who in fact has no interest in the property; deed made by a grantor who describes himself as a single man, but who in fact is married; claims by undisclosed or unknown heirs; deeds delivered after the death of the grantor; deeds invalidated by the discovery of lost or suppressed wills ; deeds recorded in violation of an escrow agreement and many other defects. ct A title insurance policy covers all of the foregoing hazards and all protects the Insured against them. A title policy insures against defects, whatsoever. To Be Sure of Your Title, Insure It. History of Title Insurance Title insurance is more than 50 years old and has gained remarkable headway during the last decade. Philadelphia, the cardie of title insurance, has 60 title insurance companies, while Phoenix, Arizona, with a population of 75,000 has three successful companies writing title insurance. Los Angeles, Denver, Portland, Seattle and Spokane o also have turned to Title Insurance. In fact, with the exception Utah and Idaho, title insurance is practiced in every state in the union. It is estimated that approximately 90 per cent of all evidentitle cing of title throughout the United States, is now done through insurance policies. |