Underwriting Q & A’s

September 21, 2020

UNDERWRITING Q&A: Can a Quitclaim Deed be used, instead of a foreclosure, to eliminate the interest of a vendee? (Florida)

A: Most likely, no.   An Agreement for Deed, also known as an “Installment Land Contract” is a form of owner financing.  The seller initially conveys equitable […]
September 21, 2020

UNDERWRITING Q&A: At what point will title be insurable following a tax sale in Arizona?

A:  These will always be evaluated on a case-by-case basis.  Prior to obtaining a Treasurer’s Deed, the purchaser at a tax sale must bring an action […]
September 21, 2020

Underwriting Q&A: Does a Tax Lien Deed of Trust have priority over a lien filed of record prior in time? (TX)

A: Yes. While we may have covered this subject in past blog topics or bulletins, we continue to see claims filed wherein a tax lien deed […]
August 24, 2020

UNDERWRITING Q&A: What is the Data Call and is it really required? (Florida)

A: Florida DFS-licensed title agencies, located in and outside Florida, are required to  submit information (“The Data Call”) about their businesses to the Florida Office of […]
August 20, 2020

UNDERWRITING Q&A: Is title derived from a Beneficiary Deed insurable in Colorado?

A:  Yes, provided certain underwriting criteria are followed.  Beneficiary Deeds, called Transfer on Death or TOD deeds in other jurisdictions, were created by Colorado statute in […]
August 20, 2020

Underwriting Q&A: For insuring purposes, will a Power of Attorney executed by a Trustee or duly appointed Independent Executor of a pending probate be recognized as a valid delegation of authority?

A: We will recognize the delegation of real property powers in accordance with Section 113.018 of the Texas Property Code (see below) by a Trustee of […]
July 21, 2020

Underwriting Q&A: How do I correct an error in a legal description? (Florida)

A: Effective July 1, 2020, Scrivener’s Errors found in legal descriptions shall be corrected by Curative Notice recorded in the public records.   Errors found in quitclaim […]
July 20, 2020

Underwriting Q&A: What is the waiting period in Colorado for insuring a property following a tax sale and issuance of a Treasurer’s Deed?

COLORADO A:  Nine years.  C.R.S. 39-12-104 provides that an owner of real property who was under a legal disability at the time of issuance and recording […]
July 20, 2020

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 […]