March 01, 2012

History of Title Insurance and ALTA Forms

James P. McAndrews
  • Learn why title insurance is necessary.

From The Commercial Real Estate Practice Manual With Forms

History

Real estate has been a valuable asset held by a person or entity. The transfer of it has been a major concern. The first legislation pertaining to recording ownership of real property was enacted in the English colony of Virginia in 1626 and required that all land sales be recorded within one year of the date of transfer in the General Court at Jamestown. Another law was passed in Virginia 14 years later providing that a deed without delivery of possession would be fraudulent unless entered in some court.

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