Embed Size (px)
Citation preview
2020 Edition
Examining Title Commitments and Preparing Curative Documents
All Courses. All Formats. All Year.
LawPracticeCLEUnlimited
ABOUT USLawPracticeCLE is a national continuing legal education company designed to provide education on current, trending
issues in the legal world to judges, attorneys, paralegals, and other interested business professionals. New to the playing �eld, LawPracticeCLE is a major contender with its o�erings of Live Webinars, On-Demand Videos, and In-per-son Seminars. LawPracticeCLE believes in quality education, exceptional customer service, long-lasting relationships,
and networking beyond the classroom. We cater to the needs of three divisions within the legal realm: pre-law and law students, paralegals and other support sta�, and attorneys.
If you are interested in teaching for LawPracticeCLE, we want to hear from you! Please email our Directior of Operations at [email protected] with your information. Be advised when speaking for LawPracticeCLE, we require you to provide the bellow items related to your course:
WHY WORK WITH US?At LawPracticeCLE, we partner with experienced attorneys and legal professionals from all over the country to bring hot topics and current content that are relevant in legal practice. We are always looking to welcome dynamic and accomplished lawyers to share their knowledge!
As a LawPracticeCLE speaker, you receive a variety of bene�ts. In addition to CLE teaching credit attorneys earn for presenting, our presenters also receive complimentary tuition on LawPracticeCLE’s entire library of webinars and self-study courses.
LawPracticeCLE also a�ords expert professors unparalleled exposure on a national stage in addition to being featured in our Speakers catalog with your name, headshot, biography, and link back to your personal website. Many of our courses accrue thousands of views, giving our speakers the chance to network with attorneys across the country. We also o�er a host of ways for our team of speakers to promote their programs, including highlight clips, emails, and much more!
1. A Course Description2. 3-4 Learning Objectives or Key Topics3. A Detailed Agenda4. A Comprehensive PowerPoint Presentation
CONTACT US
941-584-9833 www.lawpracticecle.com 11161 E State Road 70 #110-213Lakewood Ranch, FL 34202
LAWPRACTICECLE UNLIMITEDLawPracticeCLE Unlimited is an elite program allowing attorneys and legal professionals unlimited access to all Law-PracticeCLE live and on-demand courses for an entire year.
LawPracticeCLE provides twenty new continuing legal education courses each month that will not only appeal to your liking, but it will also meet your State Bar requirement.
Top attorneys and judges from all over the country partner with us to provide a wide variety of course topics from basic to advanced. Whether you are a paralegal or an experienced attorney, you can expect to grow from the wealth of knowledge our speakers provide.
ACCREDITATIONLawPracticeCLE will seek approval of any CLE program where the registering attorney is primarily licensed and a singlealternate state. The application is submitted at the time an attorney registers for a course, therefore approval may not be received at the time of broadcasting. In the event a course is denied credit, a full refund or credit for another Law-PracticeCLE course will be provided.
LawPracticeCLE does not seek approval in Illinois or Virginia, however the necessary documentation to seek CLE creditin such states will be provided to the registrant upon request.
ADVERTISING WITH LAWPRACTICECLEAt LawPracticeCLE, we not only believe in quality education, but providing as many tools as possible to increasesuccess. LawPracticeCLE has several advertising options to meet your needs. For advertising and co-sponsorshipinformation, please contact the Director of Operations, Jennifer L. Hamm, [email protected].
CHECK US OUT ON SOCIAL MEDIAFacebook: www.facebook.com/LawPracticeCLE
Linkedln: www.linkedin.com/company/lawpracticecle
lnstagram: www.instagram.com/lawpracticecle
Twitter: www.twitter.com/LawPracticeCLE
COURSE CATEGORIESA View From The BenchAnimal LawBankruptcy LawBusiness LawCannabis LawConstruction LawCriminal LawCybersecurity LawEducation LawEmployment LawEntertainment Law
Estate PlanningEthics, Bias, and ProfessionalismFamily LawFederal LawFood and Beverage LawGun LawHealth LawImmigration LawIntellectual Property LawInsurance LawNonpro�t Law
Paralegal StudiesPersonal Injury LawPractice Management & Trial PrepReal Estate LawReligious LawSocial Security LawSpecialized TopicsTax LawTechnology LawTransportation LawTribal Law More Coming Soon ...
“The major fortunes in America have been made in land.”
“Real estate cannot be lost or stolen nor can it be carried away. Purchased with common sense, paid for in full, and managed with reasonable care it is about the safest investment in the world.”
“Buy land, they’re not making it anymore.”
The first document you get from a title company.
Issued to a buyer and lender prior during the transaction and before closing.
The document provides the conditions to be met to issue a policy.
Includes all exclusions or exceptions to title. The commitment is an “offer” to issue a policy
upon closing if the conditions have been met. It also defines the extent of coverage.
Evidences insurable title subject to the Schedule B-1 Requirements and Limited by the Schedule B-2 Exceptions.
“Title Agent’s Bible” Title agent’s use this document for everything.
Use of Title Plants/Problems/Conducting your own independent search.
Be methodical and precise. Double check legal descriptions, proper
grantors, look for mistakes. Confirm access. Make sure you get legible copies of documents
set forth in Title Commitment. Understand that you may need to obtain
additional documents. Have a process to ensure thorough and
efficient review of title.
When you get a commitment, immediately: Ensure party information is correct (lender, buyer,
seller). Look out for LLC vs. Individual distinction.
Ensure legal description/address is correct. Query – which trumps the other in case of discrepancy?
Ensure description matches the contract. Ensure amount of insurance is correct (i.e. value of
the property) and premium is correct (one time amount that is paid).
Confirm accuracy of date. Confirm accuracy of policy type/amount. Confirm accuracy of names. Confirm legal description. Confirm type of estate. Check commitment date; date down before
closing.
Exceptions show items where coverage cannot be offered unless the required action is fulfilled.
Examples include removing a lien, paying taxes, resolving boundary issues, confirming access, etc.
Attorneys typically spend time negotiating away exceptions. Most people are unaware that a title company may be willing to delete some exceptions if the title problem is cured before closing, via affidavits, or via additional fees to assume the risk.
Items that are required to occur as a condition precedent to coverage. Impairments of record that, if resolved at closing, the underwriter will be willing to insure. (Stuff that needs to be completed before closing so that your title ends up where you want it to).
Encroachments (boundary issues or matters needing an accurate survey).
Rights of Parties in Possession (tenants –existing leases).
Mechanic Liens. Easements (not recorded in public records). Taxes not shown in public records.
In addition to standard exceptions, there will likely also be “special exceptions.”
Special exceptions include references to prior deeds, easements, surveys, covenants, outstanding liens, and plat maps.
All things that might be a problem with title to the property.
If the exception isn’t deleted, you cannot make a title claim regarding this issue. Special exceptions end up being frequently litigated. Problems arise when an exception is not understood
or is not taken care of at closing. Examples…
Regarding requirements: Figure out how to fulfill requirements. Ensure requirements are conducted correctly. Release of liens? Proper authorizations.
Review of Standard Exceptions. Encroachments, boundary disputes, matters
requiring a survey. Mechanics liens. Easements not shown in public records. Taxes. Try to figure out a way to get rid of all or some of
them! Ask Title Company how to fulfill. What do you need
from me to help you? Surveys, Affidavits, Etc.
Review of Special Exceptions. Easements. Covenants. Conditions. Restrictions. Encumbrances. Judgments. Lis Pendens/Court Cases. Taxes. Party matters (marriage, operating agreements, etc.).
Get copies of all of the exception documents. There should be a reception number/book and page number.
Review exception documents; i.e. easement agreements, covenants, etc.
Note all objections to these documents. Get a Survey! This will provide more detailed
information (i.e. location of improvements, easements, encroachments, etc).
You should review (and understand) every document!
CC&Rs Deed restrictions (Claim over inability to
subdivide – based on deed or not?) Easements (What is legal access?) Encroachments (Someone making a claim to
possess your property or you are making claim to possess theirs)
Judgments (is it against the person or the entity/revival)
You can request that the title company remove or modify exceptions.
Change the language in the exception. Affidavit regarding no mechanic’s liens. Modify language of the road exception. Pay liens before closing.
Notify seller and ask seller to remedy before closing.
If seller is unwilling, see if you are willing to deal with the issue.
For encroachments: easement agreement? boundary line adjustment? Quiet title?
No access, easement agreement? Quiet title? Gaps in the title? Quiet title? Negotiate
quitclaim deeds?
Ask that junk exceptions be deleted. A junk exception is an exception that does not
refer to a specific recorded document “any and all roads, easements, rights of way, etc.” “All documents of record.” “All judgments of record.” “All easements of record.”
Senior lien is not released. It starts a foreclosure.
Child support lien is not paid. Now you have to pay the person’s child support.
Your neighbor puts a fence up, blocking access. Your neighbor moves a fence and is alleging
adverse possession.
Always remember to get it? Keep asking for it. Ensure accuracy upon receipt. Specifically,
make sure the exceptions meet up with your expectations. Ask company to revise if they do not.
Make sure you don’t lose it.
Used to correct issues in documents recorded in real property records. Misspellings. Errors in legal descriptions. Taking title in wrong name. Using wrong form of co-ownership. Failure to have all parties sign. Can’t change substance of transaction. Affidavit re: reservation of mineral interests? Evans v.
Evans PLEASE NOTE THAT JUST BECAUSE A DOCUMENT
IS ACCEPTED DOESN’T MEAN IT IS ACCURATE.
Does not create a new interest, just corrects a mistake.
Remember to label the deed as a corrective deed in the title. Sometimes people forget this step. This can cause problems.
Make the correction. Add an explanation for the correction.
Sworn statements by the person who drafted the deed.
It doesn’t correct anything, it adds information to clarify.
Used to clarify a person is the same person (i.e. married name vs. maiden name).
Used to clarify legal descriptions (i.e. I accidentally said Lot 1 when I meant Lot 2). Foreclosure war story.
Reciprocal Easement Agreement for Dueling Encroachments
Easement Agreement for Encroachments Boundary Agreements, C.R.S. 38-44-112 Lot Line Adjustment Platting Exemption Subdivide and Convey Property Purchase away your issue Ground Lease Remedy before or after closing?
License agreement Removal of encroachment “Permission” for encroachment Quiet Title – Implied Easements
Endorsements For owners and lenders: ALTA 28.1-06Covers loss or damage arising out of encroachments of existing improvements belonging to the insured onto adjoining parcels. Also covers encroachments by neighboring landowners and forced removal of buildings due to encroachments onto easements. (May be limited as to known encroachments.)
For a lien to be “released”, there must be a release recorded.
Determine what type of lien that you want released; there are different procedures for each type of lien (i.e. judgment vs. deed of trust)
Ensure that you properly describe the lien being released.
Make sure you record the lien release in the right county.
Partial v. Full Satisfaction issues What is a “payment” under the judgment?
Ensure who is the proper party to sign the lien release.
In Colorado, make sure you have the original promissory note. If not, good luck.
And make sure, please, that you actually release the lien. Many many times, this is forgotten. Which brings us to an earlier part of this presentation.
“Always go to other people’s funerals, otherwise they won’t come to yours.”
- Yogi Berra
