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This newspaper page contains 3 articles. Subscribers can read the full text of each article.
Newspaper
Thomson Review
Location
Thomson, Illinois, United States of America
Date
Aug 02, 1962
Page
3
The article explains that buyers require merchantable or marketable title and that attorneys assess abstracts by tracing the chain of title from government ownership to the seller. Breaks such as unreleased mortgages or liens render the title unmerchantable, affecting the buyer’s certainty of full ownership.
The 1959 Illinois Merchantability Act eliminates all real estate title defects older than 40 years from the examination date. It bars claims to interests over 40 years old while preserving rights of lessors lessees mortgagees and certain easements. The column cautions it informs but does not constitute legal advice and urges consulting an attorney.
The Illinois Veterans' Commission warns World War II and Korean veterans that direct and guaranteed G I loans for home purchases end on July 25 1967 in many areas and that loans will not be made after that date. Veterans should visit the Mt. Carroll office for service guidance and to determine delimiting dates.
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