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Title Insurance Industry & Technology News 10/04/17
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Compliments of Marianne Mathieu
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Real Property & Title Insurance Update: Week Ending September 8 & 15, 2017
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JD Supra -
Real Property Update:
Summary Judgement
Financial Services Update:
TILA
Title Insurance Update
Class Action / Reissue Credit
Arbitration
Professional Liability Coverage
Notice
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Title Insurance in India: An opportunity awaits...
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Money Control - Under RERA, the promoter of a real estate project is obliged to obtain the requisite insurance policies required to secure the development of project and insurances as may be notified by the government.
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How Equifax hackers could steal your home
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The Orange County Register -
After you get done freezing your credit report and screaming out the window that you are mad as hell and you aren’t going to take it anymore you need to be thinking about protecting yourself against fraudulent property title transfers.
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American Land Title Association Statement on Republican Tax Reform Framework
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Nasdaq - GlobeNewswire - The American Land Title Association (ALTA), the national trade association of the land title insurance industry, released the following statement regarding the Republican’s framework of their tax reform proposal. “Now that the Republicans have provided the skeleton and offered a broad outline for tax reform, the important part of negotiation begins in order to flesh out the vast details,”
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County Clerk Maureen O'Connell Opposes Illegal Fee Increases in 2018 County Budget
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Nassau County - Long Island, NY - Maureen O’Connell, Nassau County Clerk, demands that the County Executive and County Legislature eliminate the illegal fees built in to the 2018 County Budget.
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California introduces new fee on real estate deals to pay for low-income housing
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The Real Deal - In a bid to create more affordable housing in California, Gov. Jerry Brown signed a bill Friday to enact new fees on real estate deals in the state. A fee of $75 will now apply for essential documents such as deeds and notices, up to a cap of $225 per transaction.
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Chinese Homebuyers Likely to be Hurt by Currency Restrictions
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Realty Biz - Recently China formally imposed new currency restrictions and according to the SF Chronicle.com, these are most likely to affect the middle-class in China and in the United States. Those most affected may be the Chinese buyers already living and working in the United States and who are reliant on money from China to purchase property.
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Sued for Retweeting - Yes, That Just Happened
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JD Supra - On Monday this week, a sports psychologist named Keith Bell sued King’s College in Pennsylvania and its football coach, Jeffery Knarr, for retweeting a photo of a page of Dr. Bell’s book “Winning Isn’t Normal.” In his complaint, Dr. Bell alleged copyright infringement, trademark infringement and violations of Pennsylvania common law. Interestingly, Dr. Bell complains that there was no attribution of his work. We here at The TMCA wonder if this complaint would have been filed if attribution was given even though it is not legally material to the copyright claim?
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Court Tackles Party Wall Question, Rights of Neighborhood Property Owners
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The Legal Intelligencer - In 631 N. Broad Street v. Congregation Rodeph Shalom, 2017 Phila. Ct. Com. Pl. LEXIS 194 (July 10), Judge Ramy I. Djerassi recently allowed a neighboring property owner to prevent a real estate developer from creating openings in a side wall to a building it owned for the installation of windows for proposed residences. In doing so, Djerassi dealt with what constitutes a party wall and the rights and obligations of neighboring property owners in its maintenance and alterations.
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Mortgage Company Loses Lawsuit Over Titles to 400 Georgetown Homes
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My Statesman - A federal judge last week rejected JB Mortgage Company’s claim that the owners of 400 homes in Williamson County owed it more than $60 million because of a lien on their titles that was part of a decades-old foreclosure.
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Transferring Development Rights by Zoning Lot Merger: The Marriage Can't Go on Without the Lenders
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Herrick - The most successful marriages are combinations that benefit both individuals. So it goes in a zoning lot merger, which is like a marriage between New York City properties. In a zoning lot merger, owners combine adjacent lots into a shared zoning lot, and pool together their development rights. For example, two owners with lots that each have 100,000 square-feet of development rights could agree to a zoning lot merger that gives them 200,000 square-feet of collective rights.
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Podcast Episode 9 - Special Use Properties and the Uniform Relocation Assistance and Real Property Acquisition Policies Act of 1970
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JD Supra - Locke Lord LLP’s Eminent Domain team hosts an original podcast series. In Episode 9, I share a recent presentation regarding valuation of special use properties. During that presentation, I also touched upon the little discussed concept of “manifest injustice” that is in U.S. Supreme Court jurisprudence. In the Opening Statement, I discuss the Uniform Relocation Assistance and Real Property Acquisition Polices Act of 1970.
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4 Things Title Agents should know about Blockchain Technology
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Prop Logix - One topic that has been on the minds of many people in our industry has been that of cyber security and reducing fraud. While title agents continue to educate their clients to prevent wire fraud scams, some experts in real estate and tech are predicting that Blockchain technology will revolutionize the buying and selling of property.
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How automation is threatening the appraisal industry
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Realty Biz - Appraisers might be starting to feel a little hot under the collar amid the growing realization that advances in automation and artificial intelligence technologies could one day threaten their jobs. A report in Bloomberg earlier this year highlighted that threat when it revealed lenders have concluded that computer-based appraisals are just as reliable as their human-based counterparts, and come at a considerably lower cost.
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Q&A with Ragnar Lifthrasir on Bitcoin, ICO’s and Blockchain for Real Estate
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cre.tech - If you have been to a real estate technology conference in the last few years, you have probably seen Ragnar Lifthrasir. He is hard to miss, tall and with long beach blond hair that lives up to his namesake. He routinely speaks at conferences with the association he founded, International Blockchain Real Estate Association (IBREA) ...
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What are the degrees of separation between title insurance and Richard Nixon? Read this to find out.
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Bloomberg Politics - Herbert Kalmbach, President Richard Nixon’s personal attorney who paid “hush money” to Watergate burglars and later served prison time for breaking campaign-finance laws and selling ambassadorships, has died. He was 95.
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Title sleuths - "Sleep No More" until you solve this mystery
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The Real Deal - Arthur Karpati, producer of the immersive Macbeth theater performance “Sleep No More,” is taking one for the team: he’s suing the Department of Transportation for attempting to regulate traffic in an alleyway he claims to partly own.
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Ocoee book based on true story
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OrangeObserver.com - After decades of collecting information about their hometown's past, two Ocoee sisters have published a book based on historical fiction. Myra Kinnie, 76, and Gail Waxman, 70, have written “Ocoee! A Novel,” which tells the story of the 1920 election race riot that took place in Ocoee and its subsequent effect on the city's black population for the next 60 years.
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Correcting Demographic Misperceptions
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John Burns Real Estate Consulting - Our survey of almost 1,000 people showed eight significant demographic misperceptions. Read our book Big Shifts Ahead if you want the facts. Those misperceptions (along with charts that clarify) are as follows:
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Restoring Those Old Liner Notes in Music's Digital Era
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The New York Times - Two decades into the era of online music, streaming has been hailed as the industry’s savior, but a complaint from the earliest days of digital services persists: What happened to the liner notes?
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Why Join a Trade Association?
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The TJB American Business Magazine - Some business owners might say their schedule is demanding enough at the moment, and the thought of adding one more activity to their busy calendar is unbearable. So why should they try to cram time into their already-hectic schedules to join an industry association or other professional organization?
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Atlas Obscura - Take a walk in the woods on Rattlesnake Hill, and you may find yourself stumbling across a massive rock with a hefty chunk of legal reading material carved onto its flat surface.
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Title Agents Go Nationwide
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For agents interested in growing their businesses by expanding into multiple states, we’re here to make the process simple and profitable. We offer you one point of contact to streamline your options and solutions.
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Marianne Mathieu, NTP
Vice President/National Agency Accounts
Fidelity National Title Group
347-987-0677
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