Blog

15 Jun

Underwriting Q&A | What is an Apostille?

Q: What is an Apostille? A: An Apostille is a certificate issued by a designated authority in a country which is a member of the Hague Convention of 1961 to authenticate the seals and signatures of notary acknowledgments (and other purposes but title insurance is interested primarily in only those documents pertinent to real estate

18 May

Q & A | Can “successors and assigns” and/or the “ISAOA” acronym be inserted on an Insured Closing Protection Letter issued in Texas?

Q: Can “successors and assigns” and/or the “ISAOA” acronym be inserted on an Insured Closing Protection Letter issued in Texas? A: No, that is not allowed in Texas and would be viewed as an impermissible alteration of a promulgated form by the TDI.  However, the Texas ICPL contains the following language, with emphasis added, that

20 Apr

Q & A | If a person owns separate property, what, if anything, is needed for title insuring purposes from the spouse when the property is being sold or when insuring a lien securing a loan?

Q:  If a person owns separate property, what, if anything, is needed for title insuring purposes from the spouse when the property is being sold or when insuring a lien securing a loan? A:  Keep in mind that only one spouse’s name on the deed does not automatically create separate property. In states with community

16 Mar

Q & A | Regarding FIRPTA, is a title agent required to complete the IRS forms and determine the amount to be withheld when a foreign person is selling property?

Q: Regarding FIRPTA, is a title agent required to complete the IRS forms and determine the amount to be withheld when a foreign person is selling property? ​A: No, and if a title agent does so, it might expose the agent to additional liability if the forms are not completed correctly and/or the amount withheld

20 Jan

Q & A | When we receive a contract for the sale of a 1-4 family residence and there is no HOA addendum attached, who pays for the resale certificate?

Q: When we receive a contract for the sale of a 1-4 family residence and there is no HOA addendum attached, who pays for the resale certificate? A: Effective Jan. 1, 2012, there was a new subsection (g) added to Section 5.012 of the Texas Property Code that provides as follows: (g)  The purchaser shall

16 Dec

Q & A | ATTENTION ALL NOTARIES!! NEW LAWS!! Did you know that there is a new law that affects your ability to acknowledge documents?

Q: ATTENTION ALL NOTARIES! NEW LAWS! Did you know that there is a new law that affects your ability to acknowledge documents? A: You do now. Effective January 1, 2016 a new notary law requires the Texas Secretary of State to issue identifying numbers to each notary when a commission is originally issued OR renewed;

18 Nov

Q & A | May we pay the property taxes for 2015 and insure that 2016 taxes are “not yet due and payable”?

Q: May we pay the property taxes for 2015 and insure that 2016 taxes are “not yet due and payable”? A: Short Answer is “no”.   Please read on as Procedural Rule P-20.C.1 contains the phrase “ for the year of the issuance of the Loan Policy or Interim Binder” therefore the “no” answer applies to all

14 Oct

Q & A | Will an Owner’s Policy provide insurance coverage for an illegal lot situation?

Q: Will an Owner’s Policy provide insurance coverage for an illegal lot situation (land division without compliance with the subdivision regulations and ordinances)? A: No, due to an Exclusion from Coverage found in the promulgated language of the jacket that excludes coverage for any loss, damage, costs, expenses, attorney’s fees  and/or the effect of a