Identify and Prevent Problems Before They Occur
The goal of every real estate transaction is to have a successful closing that is on schedule and without any major surprises. Understanding the critical impact of title law on those transactions is priceless in achieving that goal. This detail-packed seminar will give you the tools you need to address the title issues that are standing between you and a smooth closing.
- Review the purchase agreement's contingencies, forms and clauses in order to know what is required in your transaction.
- Know your coverage, including which risks are covered by title insurance and how owner's and lender's policies differ.
- Master the title examination process and be able to spot potential problems.
- Ensure a well-represented client by adhering to specific disclosure requirements.
- Find solutions to closing obstacles, including quiet title actions and easements.
- THE PURCHASE AGREEMENT
9:00 - 9:30, William F. Hoffmeyer
- Title Review Contingency
- Survey Review Contingency
- Review of Typical Forms and Clauses
- TITLE INSURANCE
9:30 - 10:30, Richard W. Stewart
- What is It?
- Owner's Policy
- What is Insured?
- Exclusions From Coverage
- Who is Covered
- The Coverage Amount
- Lenders' Policies
- What Lenders' Need
- Construction Loan Policies
- Multiple Mortgages
- Enhanced Policies
- THE INSURED CLOSING - CLOSING PROTECTION LETTER
10:45 - 11:15, William F. Hoffmeyer
- TITLE EXAMINATION - TITLE INSURANCE COMMITMENTS/ABSTRACTS OF TITLE/SURVEYS
11:15 - 12:15, William F. Hoffmeyer
- Recognition of Defects
- Survey Review
- Forms of Opinion Letters and Checklists
- Review Issues Relative to Particular Entity Ownerships (Partnerships, Limited Liability Companies, Trusts, Estates)
- Marital Property Conveyancing
- Decedent's Estates
- Estate Planning Concerns
- Abstract Review
- Forms, Practice Pointers and Procedures
- ETHICAL CONSIDERATIONS
1:15 - 2:15, Johnna J. Kopecky
- Formation of the Attorney-Client Relationship
- Conflicts of Interest
- Duties of Competence and Diligence
- Disclosure of Defects in Property
- Special Responsibilities to Sellers and Borrowers
- CURING TITLE PROBLEMS
2:30 - 4:00, Richard W. Stewart
- The Quiet Title Action – When is it Needed and How do You do It
- The Marketability Clause as an Alternative to the Quiet Title Action
- Inheritance Tax
- Unsatisfied Mortgages
- Defective Acknowledgement
- Federal Tax Liens
- Lack of Access
- Other Problems
- ACCESS AND ROAD ISSUES
4:00 - 4:30, Johnna J. Kopecky
- Forest Service Roads and Conservancy District Access Issues