The general assembly finds and declares that the abstract attorney’s title opinion system promotes land titlestability for determining the marketability of land titlesand is a public purpose. A public purpose isserved by providing, as an adjunct to the abstract attorney’s title opinion system, a low-cost mechanism to provide for additional guaranties of real property titlesin Iowa. The title guaranties facilitate mortgage lenders’ participation in the secondary market and add to the integrity of the land-title transfer system in the state.
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