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December 10, 2020

UNDERWRITING Q&A: I have a property that is being sold, encumbered or purchased by a trust. Is there an alternative in Utah for requiring a copy of the trust agreement? (UT)

A.  Yes.  A certification of trust statement from a trustee pursuant to UCA 75-7-1013.  The statute states that in lieu of furnishing a copy of the […]
December 10, 2020

UNDERWRITING Q&A: I have a party who wants to put minor children into title to real property. What is the best way to do this? (NM)

A.  As custodian for the minor child/children under NMSA 46-7-11, commonly referred to as the Uniform Transfers to Minors Act.  When preparing the deed, an adult […]
December 10, 2020

UNDERWRITING Q&A: I have a Colorado property wherein the property owner is deceased. The owner did not live in Colorado and the owner’s probate is being administered in another state. Is an ancillary probate proceeding going to have to be opened in Colorado to deal with the Colorado property? (CO)

A.  In most cases, no.  C.R.S 15-13-204 provides a very simple process for authenticating an out-of-state personal representative’s authority to dispose of property located in Colorado.  […]
December 10, 2020

UNDERWRITING Q&A: I have a property that is being sold, encumbered or purchased by a trust. Is there an alternative in Arizona for requiring a copy of the trust agreement? (AZ)

A.  Yes.  A certification of trust statement from a trustee pursuant to A.R.S. 14-11013.  The statute states that in lieu of furnishing a copy of the […]
October 20, 2020

UNDERWRITING Q&A: What are the guidelines for insuring following a Sheriff’s Sale in Arizona?

A:  You must review the Order Authorizing the Sale.  The Court’s Order should set forth rights of redemption following the sale.  It is very important that […]
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 […]
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 […]