In real estate transactions, one of the most important documents a seller will execute is the “Owner’s Affidavit” (also sometimes called a “Seller’s Affidavit” or “Affidavit of Title”). Often, purchase agreements require the...more
On March 7, Arizona Attorney General (AG) Kristin Mayes filed a novel lawsuit alleging consumer fraud and racketeering against numerous entities, individuals, and even law firms and title companies involved in the residential...more
On October 24, the District of Columbia Office of the Attorney General (the “DCAG”) announced that it entered into a $500,000 settlement with a title insurance company following an investigation, alleging that the company...more
Real estate developers and owners typically need to close their finance transactions as quickly as possible. Nonetheless, the closing frequently slips a few weeks from the target date. Actively managing the pacing items for...more
Sellers and borrowers involved in real estate transactions are customarily asked to sign indemnity agreements in favor of the title insurer. In April 2024, the Arizona legislature amended A.R.S. § 20-1591, which will impact...more
Here is what we cover in this issue of Title Insurance Update Winter 2024: •The U.S. Court of Appeals for the Eleventh Circuit, affirming a decision by the U.S. District Court for the Northern District of Florida, has ruled...more
Property development can be complicated, and a successful project requires the skills of many professionals. Before starting the hunt for the ideal property, consider first building a real estate development team. Once a...more
A recent groundbreaking case decided February 1, 2023, from the United States Court of Appeals for the Fifth Circuit highlights the importance of broad insurance coverage for title agents and other businesses vulnerable to...more
Under current Texas law, a home equity loan must be “closed only at the office of the lender, an attorney at law, or a title company.” This has proved to be a considerable obstacle for borrowers who are “homebound” or in...more
The Ohio General Assembly is considering a revision to Ohio private lien law to make it clearer when projects start and end and enable title to be clear on lien rights. Under 1311.04, a Notice of Commencement (NOC) is to be...more
Here is what we cover in this issue of The Title Reporter: A Legal Update for the Title Insurance Industry •An appellate court in New York has ruled that an exclusion in a title insurance policy precluded coverage of a...more
In Brasko v. Howard Bank, 2022 WL 951771 (D. Md. Mar. 29, 2022), a district court recently certified a subclass of residential mortgage borrowers who alleged that First Mariner Bank, a predecessor of Howard Bank, violated...more
In March, Iowa Title Guaranty issued a March 17, 2021 Bulletin modifying its policies regarding residential prelien notices, i.e., Commencement of Work Notices and Preliminary Notices, on residential projects....more
As greenfield development continues to grow, the title industry is facing increasing demand resulting in higher price tags and longer turnaround time for early stage title work. While it may have been common practice to wait...more
Here is what we cover in this issue of The Title Reporter: A Legal Update for the Title Insurance Industry: •The Supreme Court of Texas has ruled that a special warranty deed conveying real property limited the grantor’s...more
Although the COVID-19 pandemic is requiring changes in standard practices, many commercial real estate transactions are continuing to close—albeit with various logistical adjustments. To help keep closings on track, we...more
Standard closing procedures continue to apply in jurisdictions where in-person and/or e-recordings are possible. For transactions in jurisdictions where in-person and/or e-recordings are not currently possible, First American...more
With the continuing spread of COVID-19, many clerk and recorder’s offices have announced closures. Some offices are closed to the public, while still allowing mail-in and e-filing, and others are closed for all filings. The...more
COVID-19 has changed life (and business) as we have been accustomed to. For real estate practitioners, closing transactions in the midst of closure of governmental offices including municipal recorders offices has unique...more
Based on proof that a seller had presented a forged discharge of an existing, recorded lien at the time of sale, a New Jersey appellate court has affirmed a judgment of $1.3 million plus prejudgment interest in favor of a...more
The Pennsylvania Association of Realtors (“PAR”) Standard Agreement for the Sale of Real Estate (“Agreement of Sale”) is probably the most widely used Agreement of Sale for residential real estate transactions across the...more
A new Michigan law may streamline real estate transactions by allowing remote electronic notarization. The law, Act 330 of 2018, was signed by Gov. Rick Snyder on June 28, 2018. It amends the Michigan Notary Public Act and...more
In October 2017, the New York State Department of Financial Services (DFS) announced new regulations designed to enforce a law prohibiting title companies and title agencies from obtaining title insurance business directly...more
In Belle Meade Title & Escrow Corp. v. Fifth Third Bank, et al., No. 3:17-cv-874, ECF No. 26, — WL —- (M.D. Tenn. Oct. 17, 2017), a federal district court granted Regions Bank’s motion to dismiss the claims against it,...more
The New York State Department of Financial Services (DFS) has announced new regulations aimed at reforming various title insurance industry practices, including practices involving title company and agency marketing...more