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Judge: Current Owner Searches are Reasonable for Purchases

Is a current owner search a reasonable search for a buyer to conduct when buying a property, even when the current owner did not gain title through a warranty deed arising from an arms-length transaction?  A Federal District Court judge thinks so, agreeing with a bankruptcy court judge that came to the same conclusion.

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Illinois Title Agent Sentenced
The owner-operator of an Illinois title agency has been sentenced to twenty-one months imprisonment in a scheme to defraud clients in order to fund a gambling habit.
Punctual Abstract
Two North Carolina Counties Add e-Recording
Document recordings in Catawba County, N.C., and Nash County, N.C., can now be processed electronically, e-recording service provider Simplifile has announced.
E-recording Added in MI, SC Counties

Jackson County, MI and Berkeley County, SC are now electronically recording real estate documents, e-recording service provider Corporation Service Company has announced.

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Former San Fran Fed Employee Threatened To Murder Ex-FHFA Head Ed DeMarco
A high level executive at the FHFA, the regulator of Fannie Mae and Freddie Mac, is accused of threatening to kill the former head of the agency.
Audit: Mojave County recorder's office misused funds
A state audit concluded the Mohave County Recorder's Office misused about $150,000 in collected fees last year meant for specified tech purposes.
New York title company takes aim at D.C.'s crowded commercial real estate market
A New York City-based title insurance company has scooped up a pair of D.C.-based firms with the aim of breaking into Washington's multibillion-dollar commercial real estate industry.
Housing tear-downs on the rise as real estate rebounds
With little vacant land left, developers and wealthy buyers are razing small, older houses in sought-after Southern California neighborhoods to build modern mansions.
Fidelity expected to ramp up LPS data operations
Fidelity National Financial has closed its $2.9 billion acquisition of Lender Processing Services, and the question now is what Fidelity will do with LPS.
MBA Weekly Report: Mortgage App Volume Decreases
Mortgage applications decreased 3.6 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending July 11, 2014.  The previous week’s results included an adjustment for the July 4th holiday.
"How can we pay this claim, when the loss hasn't been determined?"

In paying claims, a title insurer can, in certain circumstances, wait for the outcome of a foreclosure or other litigation in which its insured may collect money.  In other circumstances, the title insurer has to go ahead and pay the claim even when there is pending litigation that could reduce the loss of its insured.

Sometimes, an Agent is not an Agent

As a buyer in a real estate transaction, you may deal with several persons whose profession title includes the word "agent".  Only some of the persons will be your agent, however-- and whether a particular person is your agent or not will have a profound effect on your liability for their actions if they screw up.

Inchoate Liens and Equitable Subrogation

In Maryland, if a refinance mortgage is for more than the original mortgage, it will be assigned the priority of the original mortgage if an intervening lien is not discovered due to the lender's negligence, but only for the amount of the original mortgage, and the excess amount will be assigned a lien position behind the intervening lien.  But what happens if the intervening lien has an uncertain or erroneous amount listed?  Will the lien for the excess amount of the refinance loan be behind the actual amount of the intervening lien, or the erroneous amount?

Voiding Old but Known Easements Under Marketable Title Acts

Can you have a property declared free and clear of an old but validly recorded easement you knew about when you bought the property?  Generally, the answer is no, but in certain states, you apparently can, in certain circumstances.

Case-Shiller: Home Prices Increase at Slowest Rate Since Early 2013

Data through April 2014, released by S&P Dow Jones Indices for its S&P/Case-Shiller Home Price Indices, show that the 10-City and 20-City Composites posted annual gains of 10.8%. This is a significantly lower rate when compared to last month, and nineteen of the 20 cities saw lower annual gains in April than in March.

Screwed, More or Less

A survey exception in a title insurance policy can exclude coverage even when the dimensions of the property are less than stated due to an out-conveyance of a parcel that was missed by the title insurer.

When Notified of Your Error, Fix It

Courts will often refuse to help those who do not help themselves when they are capable of doing so.  So it was recently for a refinance lender who was notified that their mortgage had a bad legal description but did nothing to correct it until it was in jeopardy of being wiped out in a bankruptcy.

Woman to Lose Her Home Over $6 Tax Bill

A widow who owned her Pennsylvania home free and clear is losing her home in a tax foreclosure sale resulting from a payment of her tax balance that was either $6 short or 6 days late, take your pick.

On the Blogs

Legacy
William Pattison 's Blog
2014/07/22
0 comments

Name Runs: A Brief Lesson
William Pattison 's Blog
2014/07/21
0 comments

Adding a blank 1st Page Cover Sheet to recordings- Maryland
CHARLENE PERRY's Blog
2014/07/07
3 comments

Are you a Digital Criminal?
William Pattison 's Blog
2014/06/06
0 comments

Privacy vs. the Public Record
William Pattison 's Blog
2014/05/30
3 comments

Punished for trying to fix a flawed mortgage
Slade Smith's Blog
2014/05/27
6 comments

Ohio's H.B. 201 Gets My Vote for Worst Bill of the Year
Source of Title Blog
2014/05/06
0 comments

Expressed Agreements v the Uniform Commercial Code
john gault's Blog
2014/04/18
0 comments

ATR Sued…
William Pattison 's Blog
2014/04/17
4 comments

Check your E&O Insurance
Brian's Blog
2014/03/25
0 comments

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