Underwriting Q & A’s

July 25, 2019
Published by Chance Perkins on July 25, 2019
Categories

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
Categories

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
April 12, 2019
Published by Ellen Wied on April 12, 2019
Categories

Underwriting Q&A : What are the IRS instructions for Form 1099-S reporting with respect to a married couple?

Q:        What are the IRS instructions for Form 1099-S reporting with respect to a married couple? A:        The IRS makes an exception to its Multiple Transferor […]
Ellen WiedEllen Wied April 12, 2019
February 27, 2019
Published by David Hays on February 27, 2019
Categories

Underwriting Q&A: Do Texas title companies offer “survey coverage”?

Q: Do Texas title companies offer “survey coverage”? A: No. Unfortunately, over the years our industry has used the slang term “survey coverage” to describe various […]
David HaysDavid Hays February 27, 2019
January 21, 2019
Published by Underwriting Department on January 21, 2019
Categories

Underwriting Q&A: What is the correct exception in Schedule B when finding a memorandum [of lease, of agreement, etc.] recorded in the Public or Official Records which affects the property? When can this exception be removed?

A:  The exception would properly read as follows:  “Terms, conditions and stipulations of the [lease or agreement] as evidenced by Memorandum of [Lease/Agreement/etc.] recorded as [document/instrument] […]
Underwriting DepartmentUnderwriting Department January 21, 2019
November 20, 2018
Published by NolaAnn Waggoner on November 20, 2018
Categories

Underwriting Q&A: What are the requirements of issuing the Texas Residential Owner Policy (Form T-1R)?

Q: What are the requirements of issuing the Texas Residential Owner Policy (Form T-1R)? A:  Requirements to issue the The property must be residential (defined in […]
NolaAnn WaggonerNolaAnn Waggoner November 20, 2018
September 19, 2018
Published by Mara Alyson on September 19, 2018
Categories

Underwriting Q&A: The Grantor in the proposed insured transaction is a Trust. How does the Deed have to be prepared so that a title insurance policy can be issued?

Question: The Grantor in the proposed insured transaction is a Trust. How does the Deed have to be prepared so that a title insurance policy can […]
Mara AlysonMara Alyson September 19, 2018
August 16, 2018
Published by Ellen Wied on August 16, 2018
Categories

Underwriting Q&A: What date should be inserted into the blank on paragraph 4 of the T-47 Residential Real Property Affidavit?

Q: In Texas, where we are encountering multi-generational re-use of existing surveys, the T-47 Residential Real Property Affidavit allows a seller to verify that a prior […]
Ellen WiedEllen Wied August 16, 2018
12345678910