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
Virginia Outdoor Foundation Stewardships: The Protectors of Our Conservation Easements
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
Virginia General Assembly 2025 Preview
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
Virginia State Bar – Real Property Section’s “Living Library” Video Series to Educate on Real Estate Law Careers
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
WHEN MARRIAGE MATTERS – Part 2: Various Ways Marital Status Can Affect Title
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
Littoral Rights vs. Riparian Rights
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
Business Trusts in Virginia: An Overview for Title Insurers
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
The NAR Settlement, and What It Means to the Title Industry
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
WHEN MARRIAGE MATTERS – Part 1: Various Ways Marital Status Can Affect Title
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
The Claims Corner: A Failed Specific Devise – Intricacies of Examining and Underwriting Estates in Virginia
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
Can You See Me Now? The Corporate Transparency Act
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
2024 Virginia General Assembly Legislative Wrap-Up
Virginia Land Title Association End of Session Report 12 March, 2024 The General Assembly adjourned “sine die” on March 9th. Adjournment on time and with a budget had been a goal of the new democratic leadership since the beginning of session. Even though there were some 11th hour difficulties we did manage to accomplish both. This session began … Continue reading 2024 Virginia General Assembly Legislative Wrap-Up
Virginia Land Title Association Committees
The Virginia Land Title Association – “IT STARTS WITH YOU” Did you know that YOU can help run the Virginia Land Title Association? In addition to the Executive Director and the Board of Directors, VLTA has Five Committees that need YOUR help! Committee meetings are held monthly at vlta.tradewing.com. These Committees meet monthly to further … Continue reading Virginia Land Title Association Committees
A Country Without Title Insurance
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
The Claims Corner: Revenge Equity Theft, Safeguards to Avoid a Potentially Costly Policy Loss
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
Judgments and Trusts
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
FIRPTA Overview
Foreign Investment Real Property Tax Act (FIRPTA) became law in 1980 ensuring Foreign Seller’s do not skip out on paying the IRS tax bill when selling U.S. real estate. We often see FIRPTA discovered in real estate transactions at the closing which is not the time for surprises. A FIRPTA surprise at closing often will … Continue reading FIRPTA Overview