{"schema_version":2,"canonical_url":"https://asc.understandingaccounting.org/asc/350/950/#05-overview-and-background","source":"FASB Accounting Standards Codification, Basic View","usage":"Study and research edition. Verify current requirements with the official source. Summaries, enrichment, and tags are machine-generated study aids. Paragraph html preserves source markup; snippet is abbreviated. Pending content is not necessarily effective.","topic":"350","topic_title":"Intangibles—Goodwill and Other","subtopic":"350-950","subtopic_title":"Financial Services—Title Plant","section":{"number":"05","label":"05 Overview and Background","anchor":"05-overview-and-background","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"350-950-05-1","para":"05-1","html":"
This Subtopic addresses the accounting and reporting for title plant and related intangible assets.
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A title plant consists of all of the following:
  1. a
    Indexed and catalogued information for a period concerning the ownership of, and encumbrances on, parcels of land in a particular geographic area
  2. b
    Information relating to persons having an interest in real estate
  3. c
    Maps and plats
  4. d
    Copies of prior title insurance contracts and reports
  5. e
    Other documents and records.
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A title plant constitutes a historical record of all matters affecting title to parcels of land in a particular geographic area. The number of years covered by a title plant varies, depending on regulatory requirements and the minimum information period considered necessary to issue title insurance policies efficiently.
","snippet":"A title plant constitutes a historical record of all matters affecting title to parcels of land in a particular geographic area. The number of years covered by a title plant varies, depending on regulatory requirements a…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:0aff9d8a3a5c65c781fb7e27cb00605083b2f2dc6b5741032ccd1f3571f75291","downloaded_from":"2026-09-10T00:04:51.049Z","last_downloaded_at":"2026-09-10T00:04:51.049Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478528","source_sha256":"cdebf74d6b13e38a3fc06f68d0b4f5d675c3d2eba768511b42edc6e4ca8f6a11"}},{"citation":"350-950-05-4","para":"05-4","html":"
An entity may decide to construct or purchase a title plant that antedates the period covered by its existing title plant (backplant).
","snippet":"An entity may decide to construct or purchase a title plant that antedates the period covered by its existing title plant (backplant).","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:344c2af850847a88cd169a5487e3c2a3fe966eeef9fc9169dd015f2afc356e56","downloaded_from":"2026-09-10T00:04:51.049Z","last_downloaded_at":"2026-09-10T00:04:51.049Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478528","source_sha256":"cdebf74d6b13e38a3fc06f68d0b4f5d675c3d2eba768511b42edc6e4ca8f6a11"}},{"citation":"350-950-05-5","para":"05-5","html":"
Title plant maintenance involves the updating of the title plant on a daily or other frequent basis by adding both of the following:
  1. a
    Reports on the current status of title to specific parcels of real estate
  2. b
    Other documents, such as records relating to security or other ownership interests.
","snippet":"Title plant maintenance involves the updating of the title plant on a daily or other frequent basis by adding both of the following:\n(a) Reports on the current status of title to specific parcels of real estate\n(b) Other…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:ec5ecebcec682cab2333df9fbb631c9e44697547c271bf7f97671e07510a8fc5","downloaded_from":"2026-09-10T00:04:51.049Z","last_downloaded_at":"2026-09-10T00:04:51.049Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478528","source_sha256":"cdebf74d6b13e38a3fc06f68d0b4f5d675c3d2eba768511b42edc6e4ca8f6a11"}},{"citation":"350-950-05-6","para":"05-6","html":"
Title searches involve the process of searching through records for all recorded documents or updating information summarized in the most recently issued title report.
","snippet":"Title searches involve the process of searching through records for all recorded documents or updating information summarized in the most recently issued title report.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:ab135ba663b7a9af43f6b92ab0d105b079977e2550299268c9e6e4852393ef42","downloaded_from":"2026-09-10T00:04:51.049Z","last_downloaded_at":"2026-09-10T00:04:51.049Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478528","source_sha256":"cdebf74d6b13e38a3fc06f68d0b4f5d675c3d2eba768511b42edc6e4ca8f6a11"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:64bc4752dac91a8386a48c8e0b851544a2ba8bc93cbbd0fbdf25f034a1cfca8d","downloaded_from":"2026-09-10T00:04:51.049Z","last_downloaded_at":"2026-09-10T00:04:51.049Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478528","source_sha256":"cdebf74d6b13e38a3fc06f68d0b4f5d675c3d2eba768511b42edc6e4ca8f6a11"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:4068d2ff86216f10678a602d3c0e0f53b9a81f888fe53d989752295a5dd02612","downloaded_from":"2026-09-10T00:04:51.049Z","last_downloaded_at":"2026-09-10T00:04:51.049Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478528","source_sha256":"cdebf74d6b13e38a3fc06f68d0b4f5d675c3d2eba768511b42edc6e4ca8f6a11"}},"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:4068d2ff86216f10678a602d3c0e0f53b9a81f888fe53d989752295a5dd02612","downloaded_from":"2026-09-10T00:04:51.049Z","last_downloaded_at":"2026-09-10T00:04:51.049Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478528","source_sha256":"cdebf74d6b13e38a3fc06f68d0b4f5d675c3d2eba768511b42edc6e4ca8f6a11"}}