Finally - something more on title examination than 45 minutes squeezed into one of those smorgasbord seminars!
This seminar covers the gamut, from nuts-and-bolts to specialty concerns.
- What constitutes the examination of title
- What title insurance covers
- What is necessary to obtain title insurance
- Understanding the closing process
- The attendee will be able to discuss chain of title.
- The attendee will be able to identify requirements of title insurance.
- The attendee will be able to review considerations while scheduling the closing.
9:00 a.m. - 9:30 a.m.
I. Overview By The Presenters: Title
Order, Preparation Of Abstract, Title
Examination, Underwriting Decisions,
Preparation Of The Commitment,
Obtain Payoffs And Satisfy
Requirements, Closing And
Disbursement Of Funds, Recording,
Issuance Of The Policies
9:30 a.m. - 10:00 a.m.
II. Explanation Of Role Of The
Abstractor, The Title Examiner And
The Title Insurance Underwriter
10:00 a.m. - 10:15 a.m.
10:15 a.m. - 11:30 a.m.
III. Visualization In Your Mind's Eye
The Key To Title Examination
A. The Legal Description
1. Residential Subdivided Lot, Square, Subdivision
2. Rural Section Township And Range Parcel And Parent Tracts
3. Commercial Tracts Of Land, Access And Servitudes
B. Chain Of Title Complexities
1. Multiple Parcels
2. Multiple Chains Of Title
3. Multiple Successions
C. Examining Transactions
1. Cash Sale
4. Tax Sales
D. Authority To Convey
1. Community And Separate Property Issues
2. Power Of Attorney
4. Corporations, Limited Liability Companies And Partnerships
E. Mortgages And Liens To Be Cancelled
F. Title Curative Work
11:30 a.m. - 12:15 p.m.
IV. Title Insurance
A. Overview Of Title Insurance
1. Historical Perspective
2. What Is A Policy Of Title Insurance And Why Do I Need It?
3. Characteristics Of Title Insurance
4. Basic Insurance Contracts
12:15 p.m. - 1:15 p.m.
Lunch (On Your Own)
1:15 p.m. - 2:15 p.m.
IV. Title Insurance (Continued)
B. General Principles Of Title Insurance
1. The Commitment
2. Legal Descriptions
4. Standard Exceptions And How To Have Them Removed
5. Common Title Exceptions How Do They Affect My Title?
6. Surveys Why Do Title Companies Want Them And When Do They Need Them?
C. The Owner's Policy And The Mortgagee's (Lender's) Policy
1. Insuring Provisions
2. Exclusions From Coverage
3. Exceptions To The Title
4. Conditions And Stipulations
5. Schedule A
6. Schedule B
2:15 p.m. - 2:30 p.m.
2:30 p.m. - 4:30 p.m.
V. The Closing Process
A. Gathering Data
1. The Parties Seller And Purchaser
2. New Lender
3. The Property
5. Real Estate Agents
3. Flood Elevation
4. Mortgage Payoff
C. Title Curative Work
D. Scheduling The Closing Some Considerations
E. Closing Documents
4. Settlement Statement
5. Truth In Lending
6. Miscellaneous Documentation
F. Handling Of Funds
3. Documents To All Parties
4. Cancellation Of Mortgages