Please Put the Title Name and Online Presentation in the Subject Line of your s

Transcription

1 Please Put the Title Name and Online Presentation in the Subject Line of your s 10/17/2013 Spooky Claims 2013 By Susan Withers Claims Counsel, Stewart Title Guaranty Company For Escrow Officer Credit please password, attendees names, and TDI License numbers (if you have one) to for certificates (please do this as soon as possible and make sure the correct spelling of the name(s) is included as to how it should appear on the certificate). Attorneys bar card number to Ken Wrider for CLE credit. Send to your training administrator if applicable. ADDITIONAL HOUSEKEEPING INFORMATION Because of recent opinions expressed by the Texas Insurance Department concerning rebates, legal credit is available only to attorneys who own title agencies which are Stewart Title Guaranty Agents, are employed by a title insurance agent licensed with Stewart Title Guaranty, or a Stewart entity. Fee attorneys who have an Escrow Officer license through a Stewart Title Agent or entity may also obtain CLE credit. We welcome any other lawyers to listen, but cannot provide continuing education credit to you. If you are claiming legal credit for this web conference, please provide in your to Ken Wrider which category you are in. We regret any inconvenience but we must take reasonable steps to protect us and you from enforcement actions by the Texas Insurance Department. 1

2 Spooky Claims 2013 By Susan Withers Claims Counsel, Stewart Title Guaranty Company Authority Churches: Hierarchical or congregational - See guidelines in Virtual Underwriter Corporations: Officer? Authorization? Documentation? Consult your favorite Stewart underwriter! Taxes Removal of Exemptions Over 65, SS & total Vet disability are portable, can be moved/removed even post closing Homestead Omitted Improvements Multiple Accounts Even for 1 property, including minerals Deceased Seller Call tax office, advise of death, and request info as to additional taxes Sec Tax Code amended allows request for waiver of penalty and interest if within 181 days new property owner receives notice of delinquency 2

3 Tax Sale Properties Redemption Period Does not remove taxes owed post judgment; or taxes owed to non-suing entities Obtaining Deeds, paid-tax receipts can be tedious and time consuming Correction Documents Person with personal knowledge can correct an incorrect legal description, non-material changes ONLY Omitted tracts, or material changes, require the parties to sign the Correction Correct BOTH Deed and Deed of Trust Tx Prop. Code Secs 5.027, 5.028, 5.029, 5.030, Stewart Bulletin TX Please call your friendly Stewart underwriter! Surveys Tell-tale information Gates on several sides Signs Driveways other than to street Remnants of roadway Walls Fences Improvements Pins located New metes and bounds description reviewed by examiner? 3

4 Deeds Quit Claim Deed Conveys whatever seller had, with no warranty General Warranty Deed Warrants good and clear title Special Warranty Deed Warrants good and clear title only as to claims by or through the grantor If Quit Claim Deed is in your chain, look again Prior Liens Document payoff information Document payments Document identity information Follow up with Affidavit as Release of Lien Stewart Bulletin SLS No Closing Table Changes All buyers must sign on Deed of Trust Changes to Closing Documents must be approved by Lender(s) 4

5 Access Access To public road Watch for barriers; Easements Railroad tracks Fences Gates Also, is property burdened with other s access rights? Family Transactions Caution: later allegations of Undue influence Mistake (meant to retain minerals) Some family members omitted 5

6 Forgery Power of Attorney Deeds produced at closing Deeds previously recorded (with no title company involvement) Notary acknowledgment and seal Avoid Mailaways, send to local Stewart office (Bulletin NL ) Minerals Omitted heirs Missed reservations Taxes Leases affect surface use Beware of Assuming Seller s Risks! Foreclosures Rescissions Legal Descriptions Requirements satisfied Appointment of Trustee Debtor alive 6

7 Homestead Party s urban or rural homestead status may affect current transaction Equity loan may need to be home equity loan Sale or loan may require spouse s joinder Judgment liens may not attach See Bill Pratt s Homestead vs Community Property Rights Webinar Presentation from August 15, 2013 Homestead (Tx Prop Code Sec ) Homestead is Urban IF: With in city or ETJ or platted subdivision Served by police, paid or volunteer fire AND 3 of the following provided by a city: Electric Natural Gas Sewer Storm Sewer and Water Corroborate Tax statement consistent with title report? Google map information? Personal knowledge? 7

8 Corroborate Down Date Always bring commitment to date before closing Have examiner review survey THANK YOU! For Escrow Officer Credit please password, attendees names, and TDI License number (if you have one) to for the certificate (please do this as soon as possible and make sure the includes the name(s) as it should appear on the certificate). Please be aware that due to TDI's strict policies on issuing credit, you must pay close attention to the password given at the end of the webinar as we are unable to give it out once the presentation has been terminated off of Webex. Attorneys bar card number to Ken Wrider for CLE credit Next Texas TIPS Online November 21, 2013, Making Good Requirements by John Rothermel. Questions/Comments? Please visit for the presentation materials within 5 business days of the webinar. 8