Question: You are closing a transaction in which Pine Acres is being sold by Jennifer Doubtfire. The title notes reveal that Pine Acres was purchased by Jay Williams in 2002. In August of 2013, Jay executed a properly drafted transfer on death deed (TOD) naming Jennifer as the grantee, and delivered the deed to Jennifer. … Continue reading 2022 Winter ARTU Q&A
What About Those 2021 ALTA Policy Forms? Part II
(Part Two) In Part II of this article, 2021 changes to the title commitment, closing protection letters, Homeowner’s policy, extended coverage residential loan policies, short form loan policies, and endorsements will be discussed. Read Part I here. Specialty Loan Policies This group of policies had few substantive changes. Primarily, these policies were made consistent in … Continue reading What About Those 2021 ALTA Policy Forms? Part II
Clerks’ Association Message
Message from the Virginia Court Clerks’ Association (VCCA): The VCCA just recently held its annual convention in August where the 2021-2022 Officers were installed. This year’s President is Kristen Nelson from York County-Poquoson Circuit Court. Kristen has been worked in the Clerk’s Office for 25 years and has been Clerk since 2014. This past year … Continue reading Clerks’ Association Message
Title Insurance and Transfer on Death Deeds
People want to avoid probate, to make it as easy and inexpensive as possible to transfer assets to designated beneficiaries after they pass away. For years people have been able to do this with their intangible personal property assets, i.e., bank accounts, retirement accounts, annuities, etc. They designate in writing who inherits the money upon … Continue reading Title Insurance and Transfer on Death Deeds
Priority of Residential Refinance Mortgage Over Subordinate Mortgage
Virginia Code § 55.1-319, entitled “Priority of residential refinance mortgage over subordinate mortgage,” makes refinancing for borrowers who need to subordinate a second or lower priority deed of trust much easier in many cases by eliminating the need for the subordinate deed of trust lender’s review and approval, as well as the execution, delivery and … Continue reading Priority of Residential Refinance Mortgage Over Subordinate Mortgage
ARTU 2020 Spring Edition
Question: You are closing a transaction in which Pine Acres is being sold by Jennifer Doubtfire. The title notes reveal that Pine Acres was purchased by Jay Williams in 2002. In August of 2013, Jay executed a properly drafted transfer on death deed (TOD) naming Jennifer as the grantee, and delivered the deed to Jennifer. … Continue reading ARTU 2020 Spring Edition
What To Do…When There’s Black Voodoo?!
Normally, searching title for a Lot in a Subdivision is a relatively easy puzzle to piece together. Every now and then, you come across a search that contains some very odd information, which can make that puzzle more complicated, and sometimes a little more fun! As we know, a title search with an Estate in … Continue reading What To Do…When There’s Black Voodoo?!
Anatomy of A Claim – Part 2
It has been a long day. After your calls to your title insurer’s underwriting counsel, your E&O carrier’s agent and your lawyer, you pulled together your file and retraced your steps. With 20/20 hindsight, it has become clear that you may have made a couple mistakes…… Your first question had been “Why us?” After all, … Continue reading Anatomy of A Claim – Part 2
Title Examination Roadblocks – What To Do?
Title Examination is a lot like a puzzle. In order to see the big picture, one must first determine the order in which to place the pieces. The process of searching a title is a specific and detailed process. To be a good title examiner, it requires great attention to detail. Title examiners are taught … Continue reading Title Examination Roadblocks – What To Do?
Anatomy of A Claim
[Queue the Dragnet theme The story you are about to read is true – only the names…and amounts…and addresses…and… you get the picture... have been changed to protect the insureds….] This is your lucky day. Just yesterday you questioned your decision to leave OCD Title, with its endless checklists and procedures (intake, title order, examination, … Continue reading Anatomy of A Claim