News By Edition

Fla. Gov. Ron DeSantis signed legislation that, among other things, prohibits foreign principals from purchasing agricultural land, or having more than a de minimus indirect interest in that land and certain other real property in the state.

The New York General Assembly introduced legislation to clarify a list of usual and customary marketing activities will not be considered an inducement unless it is given with the intention to compensate a present or perspective client for any past or present placement of title insurance business.

A title insurer sued a law firm after it was discovered the funds sent to the law firm to pay off prior mortgages on two properties had not been used to pay off the prior loans.

A title agency filed suit against a former employee who left for a competitor, alleging she broke her noncompete agreement. It also sought a preliminary injunction prohibiting her from employment in any capacity by any competitor within specified Texas counties. The district court granted the preliminary injunction. Each cross-appealed to the Fifth U.S. Circuit Court of Appeal.

The Oregon Legislative Assembly passed legislation that clarifies the method of collecting unpaid charges against real property if the instrument conveying fee title to the property to an exempt entity is recorded without a certificate issued by the county assessor attesting that all charges have been paid.

The owner of a Cape Coral, Fla., title company was sentenced to time in prison for wire fraud and illegal monetary transactions. As part of the sentence, the court also entered an order of forfeiture in the amount of $1,404,169.74, which were the proceeds of the wire fraud and illegal monetary transaction offenses. The man had pleaded guilty on Jan. 18.

Connecticut Attorney General William Tong announced Integrity Admin Group, Inc. will pay $10,000 and end its misleading marketing practices following an investigation by the Office of the Attorney General into the company’s home warranty notices.

When the mortgagee of the first mortgage on property owned by a borrower foreclosed on its mortgage, it included the mortgagee on the second mortgage as a defendant. The second mortgagee filed a claim under its title policy regarding the foreclosure action. After the title insurer obtained a settlement in the foreclosure action, it filed suit against the borrower.

Today, The Legal Description joins Florida real estate attorneys as they meet in Orlando for Attorneys’ Title Fund Services LLC’s Fund Assembly 2023. Stay tuned for coverage on social media and online.

The Minnesota Legislature is considering legislation that would amend its current law on private transfer fees.

The former president of a mortgage investment company was convicted of 100 felony counts for operating a mortgage fraud scheme throughout California. The scheme resulted in a combined loss of more than $7 million.

The San Luis Obispo County, Calif., district attorney warned real estate professionals to be on the alert for criminal fraud by thieves pretending to be property owners, noting that in recent weeks there have been numerous reports of criminals posing as property owners and contacting real estate agents to sell property they do not hold title to.

MISMO announced a call for industry professionals to join the Title and Closing Docs to Data Development Workgroup (DWG), which will focus on creating standards for frequently used title and closing documents that can be readily adopted by the mortgage industry to establish a consistent method of title data exchange between parties.

A title policy holder filed suit against its title insurer for breach of contract for failing to compensate the insured for losses allegedly covered by the title policy. The insured moved to dismiss the case, arguing that a necessary party had not been included.

The New York General Assembly introduced legislation that would provide for a notice of illegal restrictive covenant language in documents to be recorded and the recordation of restrictive covenant modification documents where conveyance instruments include language violative of civil rights laws. It would require title entities to provide the notice in title abstract reports.

The South Carolina Senate confirmed Michael Wise as the next director of the South Carolina Department of Insurance.

The North Carolina General Assembly is considering legislation that would require a minimum amount for delinquent assessments before a homeowners association can begin foreclosure proceedings. The bill would also strengthen the notice of delinquent assessments given by the associations to owners to apprise owners of the delinquency and potential filing of a claim of lien to initiate foreclosure.

A title insurer filed suit against a limited liability company (LLC) and its registered agent for misrepresenting that the LLC owned certain real property in Georgia and asserting a claim for fraud. After the trial court entered default judgment against the LLC andA title insurer filed suit against a limited liability company (LLC) and its registered agent for misrepresenting that the LLC owned certain real property in Georgia and asserting a claim for fraud. After the trial court entered default judgment against the LLC and granted the insurer’s motion for summary judgment against the agent, the agent appealed. granted the insurer’s motion for summary judgment against the agent, the agent appealed.

After a property owner defaulted on their loan and their obligation to pay assessments to their neighborhood’s homeowners association (HOA), the HOA sold the property at foreclosure. The holder of the loan filed a claim with the lender’s title insurer. When its claim was denied, the holder of the loan filed suit against the title insurer. The insurer moved to dismiss the case.

Iowa Gov. Kim Reynolds signed legislation relating to unfair residential real estate service agreements.

After a homeowners’ association foreclosed on its lien on residential property in Las Vegas, the holder of the first mortgage on the property filed a claim with their title insurer. When the title insurer denied coverage, the holder of the lien sued the title insurer for failure to provide coverage for a claim under the title insurance contract. The lender brought claims for declaratory relief, breach of contract, breach of the implied covenant of good faith and fair dealing, deceptive trade practices, and unfair claims practices.

The Alabama Legislature passed legislation to remove the requirement for insurance producers, independent adjusters, apprentice independent adjusters, and title insurance agents to complete a prelicensing course. The bill awaits the governor’s signature.

The Oklahoma State Legislature adopted legislation extending the sunset date of the Oklahoma Abstractors Board.

An indictment was unsealed in Washington, D.C., charging four people, including two lawyers, with conspiring to defraud thousands of distressed homeowners who thought they were hiring a legal firm to help them avoid foreclosures.

Washington state Insurance Commissioner Mike Kreidler sent an email to agency staff confirming he will not seek re-election.