In recent years several states in that part of the United States commonly identified as the "Middle West" have enacted comprehensive legislation that is hoped will simplify land title transactions. These statutes, though varying in detail, have a common objective-the extinguishment in favor of certain persons of claims against, and interests in, land, which claims and interests arose out of events and transactions that occurred many years ago, unless such claims or interests have been preserved by the recording of a preserving notice within that period of time. A comparatively short period is prescribed for such recording as to old claims and interests in existence at the time the statute became operative.
The certain persons whose ownerships are thus freed of such old claims and interests are, speaking quite generally, those who are in possession of the affected land and can show a connected chain of record title thereto covering a considerable number of years.
While such statutes may be useful in court proceedings to clear titles, it is believed that their greatest contribution is in simplifying title searches, thus making more reasonable the cost of title examinations and to an extent at least cutting down the number of hills to quiet title, etc., again resulting in savings in expense and delays in completing land transactions.
Ralph W. Aigler,
CONSTITUTIONALITY OF MARKETABLE TITLE ACTS,
Mich. L. Rev.
Available at: https://repository.law.umich.edu/mlr/vol50/iss2/2