You hear “abstract,” “title commitment,” and “owner’s policy” the moment you get serious about a home in Ames. If it feels like a new language, you are not alone. Title work is how you confirm a seller can legally transfer a clean, marketable title to you. In this guide, you will learn what those terms mean in Iowa, how the process works in Story County, what it costs, and how to protect yourself. Let’s dive in.
Iowa title basics
Abstract of title
An abstract of title is a chronological summary of recorded documents that affect a property, such as deeds, mortgages, releases, liens, easements, and court actions. A title company or abstractor prepares it by pulling information from public records. The abstract lets a professional review the chain of title and any recorded encumbrances.
Attorney opinion
In Iowa, some transactions still use an attorney’s written opinion based on the abstract. The attorney explains whether the seller can deliver marketable title and notes any issues that must be resolved. An attorney opinion interprets the record, but it does not insure against undiscovered problems or future claims.
Title insurance
Title insurance is a one-time premium policy issued at closing. An owner’s policy protects your equity, and a lender’s policy protects the lender’s interest if you have a mortgage. Policies are commonly written on ALTA forms, and the title company issues a title commitment before closing that lists coverage, exceptions, and any curative steps required.
How they fit in Iowa
Iowa historically relied on abstracts and attorney opinions. Today many lenders require a lender’s title insurance policy, and buyers in Ames often choose an owner’s policy for added protection. Local practice varies, so your contract should spell out whether you will use the abstract plus attorney opinion route, a title commitment with insurance, or a mix based on your lender’s requirements.
Story County process
Step-by-step timeline
- Contract acceptance: You or your lender orders a title search, title commitment, or an abstract.
- Title search: A title professional reviews deeds, mortgages, judgments, tax liens, easements, and probate records tied to the parcel.
- Commitment or abstract: The title company issues a title commitment with exceptions and requirements, or the abstractor delivers the updated abstract for attorney review.
- Curative work: Any open liens, unreleased mortgages, title defects, or missing documents are resolved through payoffs, releases, corrective deeds, or in rare cases court action.
- Closing: You sign closing documents. Policies are issued after recording, and the deed and mortgage are submitted for recording.
Local records and recording
The Story County Recorder’s Office is the official place where deeds, mortgages, liens, easements, and releases are recorded. Many records can be searched in person and through statewide electronic tools used by title professionals. After closing, the title company typically records your deed and mortgage with the Recorder and provides you with copies once recorded.
Commitment vs. abstract
A title commitment is the insurer’s promise to issue a policy if listed requirements are satisfied. It outlines what is covered and what is excepted. An abstract is the compiled history of recorded documents. In some Ames deals, you will see an abstract paired with an attorney opinion. In others, especially when a lender is involved, you will receive a title commitment and title insurance. Both aim to confirm you receive marketable title, but only the policy provides insurance coverage.
Common title issues
Unreleased mortgages
Sometimes a past mortgage was paid off but the release was never recorded. This shows up as a cloud on title. The cure is to obtain a recorded satisfaction from the lender or file corrective documentation before closing.
Judgments and tax liens
Judgment liens, child-support liens, or federal and state tax liens can attach to a property. The title company will require payoffs or formal releases. In some cases, a subordination or negotiated resolution is necessary. Tax liens can have special redemption rules that must be followed.
Property taxes and assessments
Delinquent property taxes or unpaid special assessments can survive a sale. Your closing will include tax prorations and any required payoffs. Verifying status with the Story County Treasurer and Assessor helps prevent surprises.
Mechanic’s liens
Contractors can file liens for unpaid work. If a lien appears during your search period, the seller typically resolves it before closing. Depending on timing and the policy, title insurance may address certain perfected claims that meet coverage rules and are not excepted.
Easements and covenants
Recorded easements, like utility or drainage easements, and restrictive covenants can limit how you use or improve the property. These usually remain after closing. Review them early to understand practical impact and avoid conflicts with your plans.
Boundaries and surveys
Boundary disputes or unclear descriptions can surface during review. Ordering a current survey, negotiating a boundary agreement, or using legal remedies in complex cases can clear these issues. Title policies have standard survey-related exclusions unless specific endorsements are provided.
Heirs and probate
If there were prior deaths or transfers through estates, missing signatures or authority gaps can create defects. The fix may involve corrective deeds, heirship affidavits, probate confirmations, or a quiet title action. The title commitment will list what is required before closing.
Foreclosure and tax sale histories
Past foreclosures or tax sales can leave gaps in documentation or lingering redemption rights. Careful review of those records is essential. The title company’s requirements in the commitment will guide what must be cleared.
Costs and timing
Who pays what
Title insurance premiums are paid once at closing. The owner’s policy amount is based on the purchase price, and the lender’s policy is based on the loan amount. Custom in Ames can vary on who pays the owner’s policy, so confirm with your agent and reflect the agreement in the contract. You will also see charges for title search or abstract updates, settlement or escrow fees, document prep, recording, and any attorney fees if an opinion is issued or curative work is needed.
How long it takes
A straightforward title search and commitment can be completed in a few days to a couple of weeks, and many Ames purchases close within 30 days. If curative items arise, such as missing releases, probate gaps, or complex lien payoffs, plan for more time. Complex cases can extend into months if court actions are required.
Buyer checklist
Before or at contract
- Ask whether an abstract exists and who will handle title work.
- Confirm whether the deal will use an attorney opinion, title commitment with insurance, or both.
- Decide who pays for the owner’s policy and lender’s policy, and write it into the contract.
- Request any available surveys, plats, or recent title reports.
After acceptance
- Confirm the title or escrow company and your closing officer’s contact information.
- Review the title commitment or abstract as soon as it is available. Focus on exceptions and requirements.
- Verify tax status with the Story County Treasurer and check assessments with the Assessor.
- Order a current survey if your lender requires it or if boundary concerns exist.
- Ask for a quote for an owner’s policy if not already included.
Questions to ask
- What liens, judgments, or exceptions are listed?
- What curative steps are required, and who will handle them?
- What does the owner’s policy cover, and what are the main exclusions?
- Who will record the deed and mortgage, and how will I receive copies?
- What are the expected settlement, recording, and endorsement fees?
Red flags
- Missing mortgage releases.
- Recent transfers with probate or unknown heirs.
- Multiple loans with inconsistent payoff records.
- Large easements or restrictive covenants that affect your plans.
- Signs of encroachments or unclear legal descriptions.
Local resources
- Story County Recorder’s Office for recording and copies of deeds, mortgages, and releases.
- Story County Assessor for parcel details, legal descriptions, and assessed values.
- Story County Treasurer for property tax status, proration, and redemptions.
- Iowa Land Records and county search tools used by title professionals for public record access.
- Local title and abstract companies in Ames for searches, commitments, policies, and closings.
- Local real estate attorneys for attorney opinions and curative actions when needed.
- American Land Title Association for consumer education on title insurance.
- Iowa Insurance Division for oversight of licensed title insurers.
Work with a local guide
Your title path in Ames might be abstract plus attorney opinion, a title commitment with insurance, or a blend shaped by your lender’s rules. What matters is that you understand what you are buying, clear issues early, and protect your equity with the right coverage. A trusted local team can coordinate the title company, attorney, and lender so your closing stays on track and stress stays low.
If you want a smooth, well-managed purchase in Story County, connect with Stephanie Dart. We will help you choose the right title approach, review your commitment or abstract, and guide you through closing with confidence.
FAQs
What is an abstract of title in Iowa?
- It is a compiled history of recorded documents that affect a property, used to show the chain of title and any encumbrances.
How is a title commitment different from an abstract?
- A commitment is the insurer’s promise to issue a policy with stated exceptions and requirements, while an abstract is the compiled historical record.
Do I need owner’s title insurance in Ames?
- Lenders usually require a lender’s policy, and many buyers choose an owner’s policy for added protection since it is a one-time premium at closing.
Who pays for title insurance in Story County?
- Local custom varies, so confirm in your purchase agreement whether the buyer or seller will pay for the owner’s policy and how lender policy costs are handled.
How long does the title process take?
- Simple searches often complete in days and many closings finish within 30 days, but defects or probate issues can extend timelines to several weeks or more.
What title issues are most common in Iowa?
- Unreleased mortgages, tax or judgment liens, unpaid assessments, mechanic’s liens, easement and covenant limits, boundary concerns, and probate gaps are typical.
