The 2025 session of the Virginia General Assembly is set to begin on January 8. This "short" session will last approximately 45 days. Given the abbreviated timeframe and the fact that the House of Delegates is up for election in 2025, we anticipate an intense and fast-paced legislative period. At present, there is an unusually … Continue reading Virginia General Assembly 2025 Preview
I was watching an old 1993 episode of The X-Files recently called “Ghost in the Machine.” It’s about an artificial intelligence capable of adaptive learning that starts killing the people trying to shut it down with a virus on a floppy disc. The developer has a prototype “Smart House” that he shows off to Mulder … Continue reading The Truth Is Out There
In June we celebrate National Homeownership Month. It’s a good time to reflect the milestone of homeownership, and how it continues to be a key step for building strong communities and building generational wealth. It’s a time to celebrate the wins, but it is also an important time to assess where improvements are needed, where … Continue reading Virginia’s Homeownership Rate Is on the Rise, but With Tight Inventory and Climbing Prices, Who Is Missing Out?
When I joined a major title insurance underwriter in 1989, the role of title insurance companies and their agents in Virginia was clearly defined. Our industry provided the title insurance products required by modern lending practices and real estate commerce. Attorneys settled the transactions involving the properties we insured, just as I had done for … Continue reading Celebrating 50 Years: Mark Ailsworth’s Experience as 1996-1997 Past President
Let’s face it -- it’s just not easy to determine how to vest property that has gone through an estate in Virginia. It’s a complicated task, and sparks quite a few title insurance claims. This article discusses the issue of a specific devise in a probated will that failed due to the devisee predeceasing the testator. … Continue reading The Claims Corner: A Failed Specific Devise – Intricacies of Examining and Underwriting Estates in Virginia
The weather is getting warmer, the grass is growing, and we adjusted our clocks so that means Spring is on the way! That also means that this year’s session of the General Assembly (GA) is wrapping up. If you did not participate in the VLTA’s Lobby Day in February, you missed a great opportunity to check out … Continue reading VLTA Spring 2024 President’s Message
As VLTA proudly reaches its 50th anniversary, we reflect on the remarkable journey that has shaped this distinguished association into a beacon of excellence in the industry. Over the past half-century, VLTA has played a pivotal role in fostering collaboration, innovation, and growth within the land title profession. This golden milestone is not just a … Continue reading Celebrating 50 Years: VLTA Marks a Milestone
Read Access to Deeds and Land Records in Virginia Part 1 – The Ghost of Title Search Past here. In my previous article in December 2023, I shared a glimpse from the past related to how individuals and businesses involved in the title industry conducted title searches by visiting 120 records rooms in the offices … Continue reading Access to Deeds and Land Records in Virginia: A Thirty-Year Perspective Part 2 – Digital Conversion is a Game Changer
Every day, we see mistakes in land records that can have real consequences for owners and lenders. An improperly created easement could cost a small business owner their access point. An undetected credit line deed of trust from a prior owner could cost a lender their lien position. A fraudulent deed could cost a homeowner their largest lifetime … Continue reading A Country Without Title Insurance
This article concerns a business partner’s theft of the equity in the limited liability company’s real property and business assets, following a dispute over the partners’ profit-sharing provision, by falsifying documents to represent he had authority to mortgage the LLC’s realty. While claims such as these are not uncommon and can result in expense and … Continue reading The Claims Corner: Revenge Equity Theft, Safeguards to Avoid a Potentially Costly Policy Loss
Trusts governed by the Virginia Uniform Trust Code (Va. Code § 64.2-700 et seq) are the most common form of trust arrangement found in the land records. Such a trust may be created when real property is transferred to another person as trustee, either by deed during the settlor’s lifetime or pursuant to a will … Continue reading Judgments and Trusts
As we enter the holiday season in 2023, several versions or adaptations of the famous Charles Dickens’ 1843 novel, A Christmas Carol, broadcast on television or various streaming channels. As we approach the end of 2023, the Ghost of Title Searches Past has visited me and I recall the process for completing title searches in circuit … Continue reading Access to Deeds and Land Records in Virginia Part 1 – The Ghost of Title Search Past
Title insurance serves as a safeguard promising protection against potential property ownership disputes. However, even with this coverage in place, homeowners may still be compelled to file a title insurance claim. These claims, often triggered by issues relating to unreleased liens or deeds of trust, boundary disputes, or fraud, can be complex and daunting. In … Continue reading The Claims Corner: Trends in Vacant Land Fraud Claims
A common practice when owning property for investment is to establish a limited liability company – an LLC - to hold title. This helps to compartmentalize ownership and/ or investor groups. Limited liability companies are legal entities, created by and under state law, combining attributes of corporations and partnerships. Property of an LLC has the further advantage … Continue reading Impact Of A Bankruptcy Filing On Real Property Of A Single Member LLC
Case # 1: Austin v. City of Alexandria, 374 SE 2d 289, 265 VA 89 (2003). Principle: It is crucial to make sure that a trustee signs in their capacity as trustee and not as an individual. If a trustee signs in his capacity as an individual and not as trustee when the property is … Continue reading Caselaw Affecting Ownership of Real Estate in Virginia – Part Two
We are all generally knowledgeable about various concepts and rules relating to both title insurance and real estate in Virginia, but do you know the origin of the real estate related law that we are required to follow? The laws stem from either the Virginia Code or court decisions (caselaw) which is used as precedent … Continue reading Caselaw Affecting Ownership of Real Estate in Virginia – Part One
The American Land Title Association (ALTA) has been leading the title industry in pushing back against Non-Title Recorded Agreements for Personal Services (NTRAPS). The prototype for NTRAPS is an agreement reserving a right to list real estate in the future. The right is secured by a filing in the local land records that effects constructive notice to … Continue reading Lien on Me: The UDAAP Story of NTRAPS
