2011
First Quarter 2011 | Volume 14 Issue 1
Out-of-State and Military
Acknowledgments
The primary purpose and responsibility of
having a document acknowledged is to help avoid fraud.... to read more click on
Out-of-State&MilitaryAck.pdf
RynohLive is new
Escrow Settlement software.
Some
of the benefits are:
•Daily automated 3-way
reconciliation
•Automated Positive
Pay
•Helps eliminate check, ACH, and
wire fraud
•Advanced alerting and reporting
immediately identifying account irregularities and potential critical
issues
•Turnkey solution for real estate
settlement and escrow clients
•Your data is protected with
advanced encryption in transit and within the RynohLive database.
•Works with most existing
accounting software.
For more information please visit
RynohLive’s electronic brochure at http://www.rynoh.com//
Click here for Current
Pricing Schedule - 3-1-11.pdf
Escrow
Reconciliations for Old Republic National Title Insurance Company
The Department of Insurance requires that every
licensed title insurance agent shall, on a monthly basis, report their escrow
reconciliations(s) and bank statement(s), together with the appropriate
supporting documentation, to each underwriter which the agent is licensed with
during the reconciliation period. To read more click on
Comments and information
We invite your feedback and
welcome your suggestions regarding “In The Title Corner” and the publication of
future articles.
Address correspondence
to:
In the Title Corner
Old Republic National Title
Insurance Co.
1410 N. Westshore Blvd.
Suite 800
Tampa, FL
33607-4547
Phone: 800-342-5957
Fax: 813-228-0301
Considering a IRC §1031 tax deferred
exchange? Seven Great Reasons to Exchange
While avoiding those steep capital
gains taxes is, for most, the primary consideration for engaging in a 1031 tax
deferred exchange, there are many other significant advantages to a tax deferred
exchange. Continue reading here
Since 1992, the Old Republic Title
Insurance Group has been the highest overall rated title insurance group in the
nation.
No
other title insurance group can make that claim.
See the comparisons by
clicking, here.
By Carolyn Broadwater, Florida State
Counsel
Question: I’m being asked to insure a
transaction in which the purchaser of a foreclosed property is related to the
foreclosed owner. Are the second mortgage and judgments
extinguished?
Answer: No. Subordinate liens which were eliminated in a foreclosure
are revived when title is reacquired by the foreclosed owner or a party related
to the owner. This is a well established basic principle as set
forth by the Florida Supreme Court in the case of Torreyson v. Dutton, 188 So. 805 (Fla.
1939). The revival is based on principles of equity.
A party cannot keep his property
and use the foreclosure process to eliminate his creditors. The term
“related” includes anyone in the family and others who may not be related by
blood but are partners, business associates, or agents of the former
owner. The key is that the person or entity has a relationship with the
former owner that could be pierced and that in reality the former owner will
either acquire, use, or benefit from the property or the
transaction.
This email was sent by:
Old
Republic National Title Insurance Company
1410 N. Westshore Boulevard, Suite
800 | Tampa, FL 33607-4547
813-228-0555
| 800-342-5957 | 813-228-0301 (fax)
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Our Holidays for the
Upcoming Year are:
New Year's Day, Friday, 12/31/10
Memorial Day, Monday, 5/30/11
Independence Day, Monday, 7/4/11
Labor Day, Monday, 9/5/11
Thanksgiving, Thursday, 11/24/11
Day After Thanksgiving, Friday, 11/25/11
Christmas, Monday, 12/26/11
Executive Title Services of
Florida, Inc.
A milestone to be proud of ….
Sally Morris, owner of Executive Title Services of Florida, Inc., recently
celebrated her company’s 30th Anniversary in business!
We are fortunate that Sally
became an Agent for Old Republic Title in 1999. Congratulations, Sally!
For more information click ExecTitleSercFL.pdf.
Risk Retention Limit
Increased
Scott Pierce, Senior Vice
President
I am very happy to announce that
our statutory
single risk retention limit in
Florida has increased
to $100 Million! This is
over a $30 Million
increase from last year.
The Florida 2006 Forms Adoption
By statute, all title insurance forms utilized in this state must be pre-approved by the Florida Office of Insurance Regulation (OIR). This can be a laborious and time- consuming process. In October 2006, the American Land Title Association (ALTA) adopted an entirely new set of title insurance forms. They represent a significantly improved product for consumers and lenders, and were designed to replace the ALTA 1992 title insurance forms that you are accustomed to issuing. To read more clickThe Florida 2006 Forms Adoption.pdf