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[-] Just an idea and how hard would it be? - Jay Duncan/MO (5 replies)
4/10/2008 11:13:32 AM (4115 views)
Re: Just an idea and how hard would it be? - Robert Franco/OH
4/10/2008 12:14:34 PM (5985 views)
Abstractor Paid & Listed on HUD-1 - Bobbi Shorthouse, Notary Public/CT
4/10/2008 12:57:27 PM (6086 views)

I believe most law firms in CT do this now.  In a news article this week, a California attorney called the way CT handles real estate closings "backward and out of sync with the rest of the country." Lucky thing for CT's abstractors who work for in-state title companies and lawyers.

A VERY GENERAL example:  Because it is more cost effective and faster, abstract ordered through AAA title insurance company (attorneys here WRITE and sign the title insurance policies as agents for the company).  Abstract arrives with bill. Law firm to pay title company; however, we have name, address and phone #s for abstractor contracted through title company if there is a question on search.  Separate line item on HUD for abstract listing title company as payee and separate line items listing owners and lenders policy premiums, which includes disclosure of % of premium law firm that wrote the policy receives.  Depending on how soon from receipt of abstract the deal closes, abstractor cost may be paid prior to closing or, written through clients trust account, at closing.  Either way the law firm collects the abstractor cost from its client.

As someone who wants to see abstractors paid, I think "backward and out of sync" may be a good thing.

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Re: Just an idea and how hard would it be? - Jay Duncan/MO
4/11/2008 9:14:17 AM (5868 views)
Re: Just an idea and how hard would it be? - Robert Franco/OH
4/11/2008 11:28:07 AM (5813 views)
Re: Just an idea and how hard would it be? - Diane Brewer/SC
4/14/2008 9:38:14 AM (5932 views)

[+] Is there a statute of limitations on a title claim? - DS/NC (13 replies)
4/9/2008 9:49:36 PM (4589 views)

[+] MeyMax Title Agency - Smitty Strickland/SC (6 replies)
4/9/2008 4:53:13 PM (5070 views)

[+] It should not be this difficult! - Robert Franco/OH (6 replies)
4/9/2008 2:33:15 PM (4236 views)

[+] Oil & Gas search? - joey slipher/MS (1 reply)
4/9/2008 11:51:39 AM (4092 views)




[+] A quick question - Ron McPherson/IA (6 replies)
4/8/2008 6:06:09 PM (4172 views)

[+] Trinity Abstract ... Dallas, TX - Jill Kissell/IA (2 replies)
4/8/2008 5:43:10 PM (5014 views)

[+] Eclipse - Anthony BROWNN/VA (10 replies)
4/8/2008 2:52:08 PM (4276 views)

[+] Thomas Jefferson Quote! - Kurt deVries/FL (2 replies)
4/8/2008 2:02:55 PM (4038 views)

[+] THEY DON'T PAY - Wayne Brown/VA (9 replies)
4/8/2008 11:05:05 AM (4850 views)

[+] ASA Real Estate Services - Glenda Hodge/TN (2 replies)
4/8/2008 12:53:45 AM (3950 views)

[+] Help - Edward Balian/CA (4 replies)
4/7/2008 4:47:32 PM (3932 views)

[+] 3 MINUTE SURVEY - Jeanine Johnson/FL (13 replies)
4/7/2008 12:35:17 PM (3993 views)

[+] E & O Coverage - Edward Huguenin/SC (2 replies)
4/6/2008 4:16:37 PM (4064 views)

[+] Judy N. - monica froese/ME (2 replies)
4/4/2008 1:23:18 PM (3713 views)


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