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
2024 Virginia General Assembly Preview
On November 7th Virginia held elections for both the House of Delegates and the Senate of Virginia. As a result, Democrats now hold one seat majorities in both Chambers. These were the first elections held under Virginia’s new non-partisan redistricting law. The redistricting process resulted in many incumbent legislators retiring. Coupled with primary losses and several Delegates running for … Continue reading 2024 Virginia General Assembly Preview
Generative AI Impact on Real Estate
Generative AI is a branch of artificial intelligence that creates new content by analyzing existing data. It has many potential applications in real estate, such as generating property images, listing descriptions, and personalized marketing campaigns. However, generative AI can also be used for fraud, which poses risks and challenges for the industry. How Generative AI … Continue reading Generative AI Impact on Real Estate
My Experience at the VLTA Annual Convention
When my new friend John asked me to write an article for the Examiner about my experience at the VLTA 2023 Annual Convention, I initially said “no, thanks” as a matter of course to try to get a laugh. But I immediately started thinking about what I would want to write about. It was unexpectedly obvious … Continue reading My Experience at the VLTA Annual Convention
Update on MV Realty and the Homeowner Benefit Program
As you have heard, MV Realty PBC, LLC and more than twenty affiliates and subsidiaries (“MV Realty”) filed a Chapter 11 (Reorganization) bankruptcy in the Bankruptcy Court for the Southern District of Florida, on September 22, 2023. Case number is 23-17590-EPK. The Petition gave the principal business address for MV Realty within the Southern District of Florida … Continue reading Update on MV Realty and the Homeowner Benefit Program
Tax Sales in Virginia – Part Two
Read Tax Sales in Virginia - Part One here. Litigation After the pre-litigation publication and mailed notice periods have expired a complaint can be filed with the circuit court asking that the property be sold for the delinquent taxes. The complaint generally tells the story of the real estate. It should indicate whose name the … Continue reading Tax Sales in Virginia – Part Two
2024 Convention Sneak Peek
Join Us in Celebrating VLTA's 50th Anniversary Don't Wait - Save the Date!
Winter 2023 Puzzle
Instructions. Complete the word search below.
Access to Deeds and Land Records in Virginia Part 1 – The Ghost of Title Search Past
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
Virginia’s New Foreign Entities and Ownership Act
Context and Background of New Law In response to growing global tensions between the United States and certain other adversarial nations, and concerns about such nations owning and acquiring lands within the Commonwealth, Governor Glen Younkin in the State of the Commonwealth address in January 2023 asked the General Assembly to send him a bill … Continue reading Virginia’s New Foreign Entities and Ownership Act
VLTA 2023-2024 President’s Message
Thank you for the honor of being your VLTA President for 2023-2024. This year is particularly special because it culminates in our 50th Anniversary of the Association. The 2024 Convention in Virginia Beach will be spectacular and the year leading up to that will be filled with opportunities for you to explore this year’s theme … Continue reading VLTA 2023-2024 President’s Message
The Claims Corner: Trends in Vacant Land Fraud Claims
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
What’s New With ALTA
Resource links: ALTA - ALTA Installs New President, Board of Governors"ALTA installed Don Kennedy as president as well as its Board of Governors for the 2023-2024 year, during ALTA ONE in Colorado Springs, Colo..."ALTA - FinCEN Renews and Expands GTO"The Financial Crimes Enforcement Network (FinCEN) on Oct. 20 renewed and once again expanded its Geographic Targeting Ordes (GTO) that requires U.S. … Continue reading What’s New With ALTA
VLTA 2023 Annual Convention Lineup
OCTOBER 19-21, 2023 The Hyatt DullesHerndon, VA register now VLTA Convention education has been approved for 8-hours of CE, VCTE, & VCTSA and is currently seeking CLE approval. Agent Liability This course will focus on the legal and procedural sources of a title agent’s liability. We will: Review ALTA Risk Codes to identify Virginia policy … Continue reading VLTA 2023 Annual Convention Lineup