F.Y.I. Friday: Memorial Day

Welcome to F.Y.I. Friday!!!! Here we'd like to take this opportunity to briefly detour from our normal informative posts about title insurance and focus on everyday topics! With this feature, we will try to highlight news or tidbits about what's going on in the world!

Memorial Day

When I was a younger, Memorial Day was just another way of saying 'No School!' The reason why was never very important, just the fact that I had another day to avoid homework and class.

Even now, you will find yourself confronted with the same dilemma. In one way, you are grateful that you have a day off from the stress of work. A day you can use to relax, take a trip, have a get together or explore the stores to find the latest deal, but it is always necessary to take a moment and reflect on the true importance of this day.

The specific details about Memorial Day are uncertain, but the ending result is the same. Originating some time after the Civil War, Memorial Day (originally called Decoration Day), was created as one of many methods that would attempt to heal the pain of a divided nation. It became an event to unify a country that was uncertain about it's future. It wasn't about what side you fought for, and it wasn't about what position you stood behind. This was about morning all the lives that were lost regardless of which side they fought for.

In high school, I was asked to participate in a Memorial Day service. I mainly did it because a dear and important friend requested I help. Her husband, who passed away years earlier, was a Veteran and she helped organize this service in his honor. One part of me cursed the fact that I had to get up early on my day off, but the other part of me saw the necessity of it. How could we not have a day to remember those who have fought and died for our country?

My friend has since passed away, but I would like to think she celebrates Memorial Day still. So I take that day to remember her, her husband and all the United States service men and women...past and present. It's not a day about political affiliations, nor is it a day about who is right and who is wrong. This is a day about a facet of our nation that serves the simple principles of duty and honor. The least we can do in return is appreciate the freedom their sacrifices award us, honor their memory and express our gratitude. Come Monday morning, when you take your first steps outside to see the sun shining, the birds chatting, or smell the freshly cut grass remember the people that worked together to insure you have the freedom to do such things.

Memorial Day may have started as a way to unite a divided country, but it has since become a day to honor our real life superheroes. The people that lay down their lives for millions of strangers that they will never meet. These are the true heroes of our nation and the most breath taking fact about Memorial Day is that true heroes never die. They live on in the hearts and minds of those who remember them.

Have a safe and happy Memorial Day,

Lisa Jo Engelke
Abstracts & Titles, Inc.

New Law: Civil Unions (Effective June 1st, 2011)

On June 1st, 2011, a new law will be installed in the state of Illinois legalizing the creation and dissolution of civil unions. This historic law will make the state of Illinois the 6th state to legalize same-sex marriage or civil unions. The website for the State of Illinois states that civil unions will provide the same obligation, responsibilities, protections and benefits afforded or recognized by the law to spouses. The state will also honor any union between two people which took place in another state.

Under the Civil Union Law, partners are allowed new rights they had previously been denied by being unable to formalize a legal union. According to the press release from the State of Illinois, these new rights include "automatic hospital visitation rights and the ability to make emergency medical decisions for their partners, ability to share a room in a nursing home; adoption and parental rights; pension benefits, inheritance rights; and the right to dispose of a partner's remains."

So what does this have to do with title insurance?

Well, just as marital rights have a place in real estate, now civil union rights apply as well. The partner of a civil union will have an economic investment in any joint property and they will have the responsibility to mortgage or waive their interest of the property.

As with all escrow closings, documentation is always necessary. Be aware that you, or your customers may have to provide your civil union certification/documentation for any real estate transaction or mortgaging of real estate property.

So what do you need to be aware of?

If you are a lender, you must now be aware of the legalities or issues regarding the mortgaging of homestead property for parties involved in a civil union.

If you are a real estate agent, make sure your contract is properly executed and by all necessary parties if they are involved in a civil union. Be sure to let your title company know if your buyers are involved in a civil union so that the deed will be properly prepared by an attorney.


For now, we can only relay the basics of what we know about the Civil Unions law. At a later time, more details and specifics will be made available. Abstracts & Titles, Inc. encourages you to keep up to date with new developments and also contact your attorney if necessary or if you have any further questions.

Sources:
State of IL Press Release
Civil Unions Act

To all the moms out there,

From,
Abstracts & Titles, Inc.

Madison County: Permanent Parcel Numbers Explained

Some of you may be familiar with a little number known as the Permanent Parcel Number. Realtors and lenders see it on their title insurance commitments and home owners may recognize it from their tax bills. While this number is an identification number for your unique piece of property, much like a social security number is a unique number for each individual, the digit combination has a special meaning.

This post is going to briefly explain what those numbers mean!

For our example today, we will use Permanent Parcel No. 14-2-15-11-10-102-032

The first two digits (14) will always reference your township number. In this case, the number 14 represents the Edwardsville Township. See the table at the bottom of this post for the other numbers and their corresponding county.

The second set of digits (2) will identify if the property is a tract of ground or a lot in a subdivision. The number 1, is for a tract of ground and the number 2 is for a lot in a subdivision. Our example is a lot in a subdivision. Note: This particular number and position in the permanent parcel number will only ever be represented by the number 1 or 2.

The third, fourth and fifth set of digits (15-11-10) represent the numbers on the corresponding tax map. Madison County has over 2,315 Tax Maps showing the parcel numbers, dimensions, acreage, and street names. In this set, the fourth set of digits (11) represents the section number of the property which is used to locate the parcel on the tax map.

The sixth set of digits (102) is the map block in which the parcel is located on the tax map.

Finally, the seventh set of digits (032) is your unique lot, or the lot your are trying to identify.

Township Number	Township
01	Helvetia
02	Saline
03	Leef
04	New Douglas
05	St. Jacob
06	Marine
07	Alhambra
08	Olive
09	Jarvis
10	Pin Oak
11	Hamel
12	Omphghent
13	Collinsville
14	Edwardsville
15	Ft. Russell
16	Moro
17	Nameoki
18	Chouteau
19	Wood River
20	Foster
21	Venice
22	Nameoki
23	Alton
24	Godfrey