It is readily seen that, not only must one who contemplates a real estate transaction inspect the realty involved, but must also procure a thorough examination of the records to ascertain who is the owner, the condition of the title and all instruments concerning which the law presumes everyone to have notice. The examination reveals the entire history of the title from the earliest record to the present time; shows the chain of deeds, wills and actions by which the property passed from owner to owner, as well as mortgages, leases, restrictive and other agreements and instruments encumbering or affecting the title or use of the property. The examiner first abstracts all the instruments conveying the title; that is, makes a separate digest of each. This gives him what is known as a chain of title. He may find his chain very simple, as a grant from the State to A and successive deeds from A to B, B to C, C to D, D to E, E to F, F being the present owner. Usually some one in the chain has died owning the property. In that event he may find deeds from A to B, and B to C and no deed from C although F claims ownership. The probability is that C has died owning the property. In that case his will has been probated (if he left one) and is on record in the Court. If he left no will, it will usually be found that an administrator of his personal property has been appointed, and the papers on file for that purpose state the names of his heirs. The examiner accordingly turns to the records of deaths and wills to fill the gap, and finds the will or record of death of C. This supplies him with the names of C's devisees or heirs and he then resumes his search by locating the deed from them to D and so continues his chain. The chain is often broken by some legal action, as for instance a foreclosure. Some person in the chain may have mortgaged the property. The chain of title stops in D. A search of the records of legal actions shows that D was cut off in a foreclosure suit. Examination of the judgment in the action reveals the name of the official who sold and gave a deed of the property.

Search against him will show his deed and the chain is resumed. After the chain of title is completed separate search is made against each owner for the period he owned the property, to ascertain what encumbrances he may have placed upon the property.

The examiners completed work in an "abstract of title." (Appendix form 58.) In many States the abstract passes with each sale of the property, being kept up to date by the addition of a memorandum of each new transfer. It is deemed so valuable that in some States it is customary to provide in the contract of sale that the seller deliver the abstract of title at or before the delivery of the deed. (See Illinois contract of sale, appendix form 10.)