Special attention is called to the record of deeds issued (Form 30), the object of which is to keep a permanent record of every deed executed by the concern. This matter is often overlooked in real estate offices, but a little thought will show its importance. No wholesale merchant will deliver goods without keeping some record of the transaction; yet many real estate offices, even though doing a large business, fail to keep any distinct record of deeds and other similar papers executed and delivered.

..........................Deed No...........

Date...................... From....................................

To.................................................................

Consideration $.................. Actual............................

Terms .............................................................

Payable ............................................................

Property: Tract Book No................ Serial No................

.............................. County..............................

................................................................................................................................

................................................................................................................................

................................................................................................................................

................................................................................................................................

Contract No..................... Mortgage No.....................

Other Papers delivered..............................................

................................................................................................................................

................................................................................................................................

Executed by..........................................................

Delivered to.........................................................

Total Acres........................Value on lists $..................

C. B........................................Gain $..................

Journal.....................................Loss $..................

Verified by..........................................................

Form 30. Record of Deeds Issued.

If all deeds given by a concern are to be of one form, it is best to have them printed, numbered consecutively, and bound in book form on stubs. Each stub should provide appropriate spaces for the following information:

Date of deed; name of grantee; consideration (both the actual and the nominal, if they differ); terms of sale and method of payment; description of property, with serial number; number of contract or mortgage in connection with which deed is issued; names of parties executing the deed; name of person to whom deed is delivered; any other papers delivered, such as releases, quitclaim deeds, etc.

In using this form, the blanks are filled in with pen and ink. Care should be taken to compare the stub with the deed, when both are completed, and to have the stub initialed by the person responsible for the verification. In the case of subdivision properties of large size, it is convenient to have a separate deed book for each subdivision, with the name or description of such subdivision printed thereon.

Another system of keeping office records of deeds issued is to have the deed form occupy but a single page, and to make a carbon copy of each deed as it is issued. These copies are then arranged numerically and filed in a binder. This system gives good results, the only serious objection being that when a copy of a certain deed is called for, there is a strong temptation to remove it from the binder, with the probability that it may not be returned to its proper place.

If various forms of deeds are used, the record may be kept in a book specially prepared for that purpose. In addition to the particulars already mentioned, this book should show the kind of deed given, i.e., warranty, special warranty, quitclaim, etc. The record shown in Form 30 has been used for this purpose for many years by a company whose head office is far distant from the local office in which the business is transacted. The head office keeps a complete duplicate set of records, copied originally from the local books and kept up to date from the record of deeds issued.

Whatever method may be adopted, the rule should be rigidly observed that no deed be allowed to leave the office until a permanent written record of it is made. At the time, this may appear of little consequence, but in all records connected with real estate there is a strong possibility that at some future time it may be necessary to refer to the original transaction, and permanent records are therefore even more necessary in this line of business than they are in a mercantile or manufacturing enterprise.