----- Message from "MARK R. GRAY" <gray@whitfieldlaw.com> on Wed, 4 Oct 2006 07:26:42 -0600 -----

To:	<realestate@iabar.org>, "PHILIP McCORMICK" <mccormick@whitfieldlaw.com>
Subject:	Re: marketable title in an abstract

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If the issue is "who pays for recording," I would say it is a toss up.  If the expense of recording the deed is on the buyer, why not the expense of recording the resolutions?  Really, the issue is whether marketable title is in the City - which it is.  The resolutions are required to show marketable title IN THE BUYER.  On the other hand, it is not the buyer's fault the City needs to file the resolutions - much like the expense of preparing and filing Trustee/Buyer affidavits.  Or, for example, I wouldn't expect a buyer to pay for recording documents to prove that Joe Blow has authority to sign a deed for XYZ Corp.  The resolutions really apply to this "authority to sign" analogy.

Mark R. Gray, Esq.
Whitfield & Eddy, P.L.C.
213 N. Ankeny Blvd., Suite 100
Ankeny, Iowa  50023-1749
(w) 515-964-3633
fax 515-964-3692
email - gray@whitfieldlaw.com

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>>> mccormick@whitfieldlaw.com 10/03/06 05:11PM >>>
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My client is buying a lot from a city here in Iowa.  The abstract of title showed the conveyance of the lot to the city.  There is no showing in the abstract that the city has complied with Chapter 364.7.(resolutions, notice of hearing)    The city has now complied with Chapter 364.7.   The attorney for the  city has taken the position that the abstract does not need to show compliance with Chapter 364.7 for the abstract to show marketable title in the city.   He is also taking he position that the City does not need to record the resolutions etc. either, but rather that the delivery of the documents along with the deed is sufficient.   He is aware of title standard 2.1.

Any thoughts regarding this would be appreciated.

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