Article by Kevin Pogoda. This is part two of "FIRPTA: In a Nutshell - Part One". Determining tax liability based on capital contribution is well beyond the expertise of the purchaser (who is liable for such withholding) or the settlement agent acting on the purchaser’s behalf. Other options to consider: (1) sending the full amount of … Continue reading FIRPTA: In a Nutshell – Part Two
Article by R. Michael Smith This is the second installment of a two-part article that is an expansion of the materials included in the VLTA seminar, The Sound and the Fury: Railroads, Rights-of-Way, and Revesting, and a 2017 Examiner article, Derailed by the Supreme Court. Some sections have remained the same, other sections have been … Continue reading Issues Involving Railroad Rights-of-Way in Virginia (Mostly) – Part Two
Article by Julie Ann Rutledge “Information is not knowledge. The only source of knowledge is experience. You need experience to gain wisdom.” Albert Einstein This quote described my reality upon graduation from University with a BSW, many moons ago. The excitement of graduation was quickly squashed by the lack of available jobs in my field. All … Continue reading Testifying as an Expert Witness as a Title Examiner
Article by Jon W. Brodegard I. Introduction and Background At its broadest, ownership of or title to land means the right to use or develop, to exclude others from, and to otherwise control everything within the cubic space located not only below and upon, but also above a defined area located on the surface of … Continue reading Some Air Rights Considerations in Virginia
Reprinted with permission from the Virginia State Bar In 2001, I wrote an article for the Virginia Land Title Association (VLTA) Examiner simply entitled Equitable Subrogation in Virginia. The article appeared in Volume 7, Number 1, of the VLTA Examiner. Twenty-three years later, this is the sequel. Occasionally, lenders who believe they are secured by … Continue reading EQUITABLE SUBROGATION IN VIRGINIA: THE SEQUEL
In plain English, the Foreign Investment in Real Property Tax Act (FIRPTA) requires foreign persons (transferors) to pay U.S. income tax on gains they make from selling U.S. real estate. FIRPTA puts the burden on the purchaser (transferee) to withhold 15% of the contract sales price if the seller is a foreign person—unless one of … Continue reading FIRPTA: In a Nutshell – Part One
Stay tuned: Registration is opening soon for VLTA's 2025 regional events! VLTA Advocacy Day 2025 Below are four reasons why you should attend VLTA Advocacy Day 2025: It connects the Virginia title insurance community with legislators It provides officials the information they need to make the best decisions The information and education you can provide … Continue reading VLTA Upcoming Events 2025
So, you have a conservation easement on your property. Now what? We turned to the Virginia Outdoor Foundation for a more in-depth explanation of what happens behind the scenes. How does VOF determine the suitability of a property for a conservation easement? VOF has a thorough review process for all proposed easements. It begins with … Continue reading Virginia Outdoor Foundation Stewardships: The Protectors of Our Conservation Easements
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
Provided by the Virginia State Bar Membership CommitteeThe Real Property Section of the Virginia State Bar has unveiled an innovative new video series titled the "Living Library" produced by the Section’s Membership Committee. The project is intended to demystify the complexities of real estate law. Its goals include providing Section and Bar members at large … Continue reading Virginia State Bar – Real Property Section’s “Living Library” Video Series to Educate on Real Estate Law Careers
Read WHEN MARRIAGE MATTERS – Part 1 here. Take the VLTA online course, “When Marriage Matters”, on-demand here: https://www.pathlms.com/vlta/courses/69081 (1-hour of CE, CLE and CCE credits). Conveyances and Creditors Moving beyond the advantages and exceptions to survivorship, all the remaining advantages to a tenancy by the entirety are rooted in the concept of one flesh. … Continue reading WHEN MARRIAGE MATTERS – Part 2: Various Ways Marital Status Can Affect Title
I. Littoral Waters and Riparian Waters A person owning or considering the purchase of waterfront property might be interested to know whether the property includes littoral rights or riparian rights. The starting point is to understand the difference between littoral waters and riparian waters. Littoral refers to a pooled body of water, such as a pond, lake … Continue reading Littoral Rights vs. Riparian Rights
While corporations and limited liability companies are the most common business entities, Virginia also allows for the formation of another type of unincorporated association known as a business trust. These trusts can hold title to real estate and other property just like any other business entity. A business trust is a legal arrangement where the … Continue reading Business Trusts in Virginia: An Overview for Title Insurers
In March, the National Association of Realtors (NAR) agreed to a $418-million settlement to settle several pending lawsuits alleging that NAR members used business practices that kept commissions artificially high, and drew compensation from the seller for services given to the buyer. Many news outlets, including the New York Times™, Washington Post™, USA Today™, Richmond … Continue reading The NAR Settlement, and What It Means to the Title Industry
Take the VLTA online course, "When Marriage Matters", on-demand here: https://www.pathlms.com/vlta/courses/69081 (1-hour of CE, CLE and CCE credits). Introduction Marriage matters for many reasons. Just ask anyone, and you are likely to get sundry reasons for why marriage matters: love, security, companionship, children, etc. But pose that same question to someone in the title industry, and you may … Continue reading WHEN MARRIAGE MATTERS – Part 1: Various Ways Marital Status Can Affect Title
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
Title professionals are no strangers to the difficulties in getting to the bottom of ownership issues for those operating a business through opaque entities. Peeling back the layers is often required to get to the ultimate owner. The anonymity provided is important to some companies as a means of legally doing business. However, these same … Continue reading Can You See Me Now? The Corporate Transparency Act
