Chance Perkins

August 14, 2021
Published by Chance Perkins on August 14, 2021
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Underwriting Q&A: What is a “master indemnity”? How does it work and what does it cover?

A: A “Master Indemnity” refers to the Texas Master Indemnity Agreement (Form T-29) set forth in Procedural Rule P-11. Prior to discussing how a “master indemnity” […]
Chance PerkinsChance Perkins August 14, 2021
January 20, 2021
Published by Chance Perkins on January 20, 2021
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Underwriting Q&A: Is a Small Estate Affidavit an acceptable/insurable procedure to handle the affairs of an intestate decedent?(TX)

A: In limited situations, the Small Estate Affidavit may be relied upon to evidence a transfer of the decedent’s homestead property as discussed below. The Small […]
Chance PerkinsChance Perkins January 20, 2021
December 10, 2020
Published by Chance Perkins on December 10, 2020
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Underwriting Q&A: Is there an alternative for the notarization of a document when the individual has a (physical) disability that impedes their ability to sign the document? (TX)

A: Yes, Section 406.0165 of the Texas Government Code provides a method for notarization of a document for an individual with a disability. The statute provides […]
Chance PerkinsChance Perkins December 10, 2020
November 19, 2020
Published by Chance Perkins on November 19, 2020
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Underwriting Q&A: What is the effect of a disclaimer of interest in property? (TX)

A: A disclaimer may be used for a variety of reasons including federal tax purposes (avoid gift taxes) and other state law purposes (avoid creditors’ claims). […]
Chance PerkinsChance Perkins November 19, 2020
July 20, 2020
Published by Chance Perkins on July 20, 2020
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Underwriting Q&A: How does a divorce affect an appointment (e.g., an agent under a power of attorney) or beneficiary designation (e.g., a devise under a will)?

TEXAS A: If a principal designates their spouse as an agent under a durable power of attorney, a subsequent divorce or annulment will terminate the agent’s […]
Chance PerkinsChance Perkins July 20, 2020
December 17, 2019
Published by Chance Perkins on December 17, 2019
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Underwriting Q&A: Is a title company responsible for obtaining and paying for services at a closing settlement to assist customers with disabilities?

Q: Is a title company responsible for obtaining and paying for services at a closing settlement to assist customers with disabilities? Answer: Yes. The Americans with […]
Chance PerkinsChance Perkins December 17, 2019
November 15, 2019
Published by Chance Perkins on November 15, 2019
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Underwriting Q&A: What in the world is PACA and PSA?

Q: What in the world is PACA and PSA? A: “PACA” refers to the Perishable Agricultural Commodities Act, while “PSA” refers to the Packers and Stockyards […]
Chance PerkinsChance Perkins November 15, 2019
July 25, 2019
Published by Chance Perkins on July 25, 2019
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Underwriting Q&A: If the subject property is the seller’s homestead, can I remove the abstract of judgment against the seller (debtor) from the Commitment?

Q: If the subject property is the seller’s homestead, can I remove the abstract of judgment against the seller (debtor) from the Commitment? A: Texas– No. […]
Chance PerkinsChance Perkins July 25, 2019
May 28, 2019
Published by Chance Perkins on May 28, 2019
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Underwriting Q&A: If the current seller was awarded the property in a divorce proceeding, do we need to worry about a federal tax lien recorded against the ex-spouse post-divorce?

Q: If the current seller was awarded the property in a divorce proceeding, do we need to worry about a federal tax lien recorded against the […]
Chance PerkinsChance Perkins May 28, 2019