This seminar is designed for attorneys and other legal staff, title officers, real estate and insurance professionals and lending officers.
This comprehensive seminar will examine title insurance and how it relates to the typical real estate transaction, as well as feature the benefits and limitations of title insurance. The real estate professional will gain insight into the title insurance process. Finally the interface between title insurance and common problems associated in the real estate transaction will be discussed.
Topics to be discussed include:
• Licensing And History
• Types Of Descriptions And Surveys
• Searching Titles And Reviewing Title Records
• Obtaining Title Insurance
• Transferring Title To Real Estate
• Curing Title Defects
8:30 a.m. - 9:15 a.m.
I. Licensing And History
A. Definition Of Surveying
2. Blacks Law
3. State Of Missouri’s Legislated Definition
1. State Chapter 327 And 4 CSR 30 Title 4 Department Of Economic Development
a. Years Of Required Experience
b. Educational Requirements
c. Examination/LSIT – PLS NCEE National Exams
d. Renewal – PDU’s/CEU’s
C. History Of Surveying
a. Original 13 States – Repetition Of The Metes And Bounds Systems Adopted From European Methods
b. The Evolution Of The U.S. Land Survey System
c. Range System
d. Tiffin’s Instructions Of 1814
4. Missouri’s Title Evolution
a. French – Spanish – French – U.S. Territory, Statehood Timeline
b. Introduction Of “Landgrants”
c. Establishing The U.S. System In The Louisiana Purchase Territory
9:15 a.m. - 10:15 a.m.
II. Types Of Descriptions And Surveys
A. Types Of Property Descriptions
1. Metes And Bounds
a. Heading/Caption Body Of Description
b. Explanation Of Bearings – Azimuths – Angles Deflection/A. CC Or CWC
2. Subdivided Parcels – Platted Exhibits
B. S.R.P.R. Surveyors Real Property Report
1. Residential Use ONLY
2. Controlling Monuments
4. Statement At Bottom Or In Report
C. Missouri Minimum Standards Property Boundary Survey(s)
1. Monumented Survey
2. Improvements – The Difference Between SRPR’s And Boundary
3. Discrepancies In Boundaries Not In SRPR’s
D. ALTA – ACSM American Land Title Assoc. – Am. Congress Of Survey – Mappers
1. Evolution Of The Several Standards, And Changes Over The Past Few Decades
2. TABLE “A” – Understanding It’s 16 Components And Their Sub Components
3. Certifications – All Parties Involved Purchasers – Lenders – Title Company
10:15 a.m. - 10:30 a.m.
III. Question And Answer Period
10:30 a.m. - 10:45 a.m.
10:45 a.m. - 11:45 a.m.
IV. Searching Real Estate Titles And Reviewing
A. The Mechanics Of A Title Search
1. Searching And Examining The Public Record
2. Other Sources Of Records
1. Deeds, Mortgages, Other Liens In The Chain, Easements, Covenants
C. Interpreting The Results Of The Examination
11:45 a.m. - 1:00 p.m.
Lunch (On Your Own)
1:00 p.m. - 2:00 p.m.
V. Obtaining Title Insurance
A. Nature Of Title Insurance
B. Title Insurance Commitments
1. What They Tell You
C. Title Insurance Policies
1. Owner’s, Lender’s, Leasehold, Short Form Policies And Special Risk Policies
D. Policy Endorsements
1. What They Do And What They
2:00 p.m. - 2:15 p.m.
2:15 p.m. - 3:15 p.m.
VI. Transferring Title To Real Estate
A. Voluntary Transfers
1. Legal Requirements For An Effective Conveyance
2. Types Of Deeds
B. Involuntary Transfers
3. Tax Sales
4. Adverse Possession
C. Burdens Upon Land
1. Covenants And Restrictions
2. Equitable Servitude
3. Government Regulations
3:15 p.m. - 4:15 p.m.
VII. Curing Title Defects
A. How Do Title Problems Arise
1. Unsatisfied Liens
2. Construction Liens
3. Boundary Overlaps
4. Adverse Possession
5. Marital Interests
B. How To Resolve Title Problems
1. Use Of Boundary Agreements
2. Use Of Affidavits
3. Satisfying Or Removing Liens
4. Cure Or Insure
5. Curative Statutes
6. Quieting Title/Legal Action