Everyone in real estate knows that the market is scalding hot in the summer and lukewarm in the winter. This means that settlement agents will find themselves with a bit of free time in the off-season. Instead of wasting that time, put it to good use by completing the following checklist to do the necessary … Continue reading Housekeeping!
10 Common Survey Issues Relevant to Title Problems
10. History of Surveying in the Colonial Era Surveys in the colonial era were quite inadequate due to the lack of qualified personnel and the use of poor equipment. The most qualified surveyors were busy mapping the country and plotting rivers, which was the main source of transportation of that time. The surveys performed for … Continue reading 10 Common Survey Issues Relevant to Title Problems
How to have a successful Real Estate Settlement Agent Audit
Once a year you get notified that the agency’s RESA audit is due to be conducted. What will the auditor be looking for? According the Virginia Code § 55-525.24(A): All funds deposited with the settlement agent in connection with an escrow, settlement, or closing shall be handled in a fiduciary capacity… What does fiduciary capacity … Continue reading How to have a successful Real Estate Settlement Agent Audit
Tales from the Table: A View to A Kill
By Stephanie Campbell, Westcor Land Title Insurance Company. Most people are familiar with the James Bond movie “A View to a Kill”. An intense thriller with great music and exotic backdrops. The theme song by Duran-Duran runs through my head every time I repeat the crazy story of one of my many “Tales from the … Continue reading Tales from the Table: A View to A Kill
Title Agent & Examiner Mishaps
By Glenda Brooks, Middlesex Title Company Title problems can show up in various ways. The best practice is to resolve the issues before closing. Breaks in the chain of title occur quite frequently and it is the responsibility of the title examiner to try to piece together the chain. Each time the property changes hands … Continue reading Title Agent & Examiner Mishaps
Top Ten Claims in the Title Industry
Everyone loves top 10 lists right? Well here you go, the top ten claims in the title industry. Before we get started, a few disclosures. Names and some identifying facts have been changed for privacy reasons. In several cases the claim details have been simplified to save readers from the doldrums of extensive legal maneuvering. … Continue reading Top Ten Claims in the Title Industry
With the Proliferation of State Cannabis Programs, Where Does Virginia Fit In? (Part 1)
If you have watched the news or read a newspaper lately, you have likely been confronted by the rapid expansion of state medical cannabis programs. More than 50 percent of states currently have medical marijuana laws on their books, several other states are considering establishing such programs, and a handful of states allow adult use … Continue reading With the Proliferation of State Cannabis Programs, Where Does Virginia Fit In? (Part 1)
Claims, ALTA Risk Codes and Lessons from the Great Recession
By Skip Sacks, Virginia State Counsel Stewart Title Guaranty Company Our story begins in the spring of 2011. I was reviewing Stewart Title Guaranty Company’s Virginia claims totals for 2010 and it was clear that the recession was causing a huge increase in claims volume and losses. My colleagues at competing underwriters confirmed that they … Continue reading Claims, ALTA Risk Codes and Lessons from the Great Recession
Button, Button, Where’s the Button?
The following is a story commentary about good practice. “Button, button, where’s the button,” the kindergarten game, is a childhood memory for me. I could not have guessed in kindergarten that I would ever recall the game as a dirt lawyer many, many years later. But, it’s the first question that comes to my mind … Continue reading Button, Button, Where’s the Button?
Finding Your Way
A Railroad Family History Genealogists find familiarity with title examination processes useful in establishing family relationships and histories. The same techniques are often helpful in tracing the history of corporate entities, except that the corporate records are not part of the land records unless and until notice of those particulars is entered in the land … Continue reading Finding Your Way