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Florida legislature passes RON amendments
Posted Date: Monday, April 26, 2021
The Florida legislature passed legislation adopting remote online notarization amendments, including clarifying that a notary or his or her employer may choose the technology used to perform an electronic notarization. Read on for more details.
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Buyers sue over price-fixing scheme
Posted Date: Wednesday, May 5, 2021
Buyers of property in Maryland filed suit against a bank and its related entities that worked with a Maryland-based title company that paid kickbacks in exchange for referrals. Among other things, the buyers allege the title company and bank entities entered a horizontal price-fixing conspiracy, in violation of the Sherman Act. Read on for more details.
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Arkansas Legislature adopts remote notarization bill
Posted Date: Wednesday, May 5, 2021
The Arkansas Legislature adopted legislation that allows for the use of online notarizations including an emergency provision to be in place until Gov. Asa Hutchin’s executive order No. 21-07 expires. Read on for more details.
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Buyers claim RICO violations in kickback class action
Posted Date: Wednesday, May 5, 2021
A class of plaintiffs filed suit against their mortgagee, claiming it participated in a kickback scheme with the title agent who conducted the closing. Among other things, they claim violations of the Racketeer Influenced & Corrupt Organizations Act. The bank sought to dismiss this cause of action. Read on for more details.
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FinCEN renews real estate GTOs
Posted Date: Wednesday, May 5, 2021
The Financial Crimes Enforcement Network renewed its Geographical Targeting Orders requiring title companies to identify the natural persons behind shell companies used in all-cash purchases of residential real estate. Read on for more details.
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Attorney sentenced for wire fraud, money laundering
Posted Date: Wednesday, May 5, 2021
A New Hampshire attorney was sentenced for engaging in a scheme to defraud several of his clients over $2.5 million in escrow funds placed in his Interest on Lawyer Trust Accounts. Read on for more details.
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Seller disputes quiet title, reformation action
Posted Date: Wednesday, April 28, 2021
While he was going through bankruptcy, a man, through his company, sold property to a developer. The deed after the sale mistakenly stated the developer and the debtor in his individual capacity owned the property. When the developer filed an adversary action to reform the deed and quiet title, the debtor disagreed. The case eventually went before the 11th U.S. Circuit Court of Appeals. Read on for more details.
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Property owner, county dispute easement in quiet title action
Posted Date: Wednesday, April 28, 2021
A property owner and Monterey County dispute whether a Conservation and Scenic Easement on his property has been terminated. He argues that even if his predecessors had not validly terminate the easement, the county should be equitably estopped from enforcing the easement because he is a good faith purchaser for value without notice of the easement. Read on for more details.
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Oklahoma adopts mortgage release bill
Posted Date: Wednesday, April 28, 2021
The Oklahoma Legislature has passed legislation relating to the release of mortgage affidavits by title insurance officers and agents. The bill awaits the governor’s signature. Read on for more details.
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Nevada man sentenced for shotgun scheme
Posted Date: Wednesday, April 28, 2021
A Henderson, Nev., man was sentenced to 18 months in prison for his role in a scheme to use bogus information and simultaneous loan applications at multiple banks – known as “shot-gunning” – to attempt to obtain home equity lines of credit. Read on for more details.
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Insured, insurer dispute coverage after settlement
Posted Date: Monday, April 26, 2021
A title insurer agreed to defend its insured, with reservations. After the insured settled its dispute, the title insurer challenged the settlement, filing a suit contesting coverage. The case eventually went before the Court of Appeals of Arizona. Read on for more details.
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Oklahoma adopts lien-release bill
Posted Date: Monday, April 26, 2021
The Oklahoma Legislature adopted legislation relating to mortgage holders releasing mortgage, authorizing an agent of a mortgagor to make written requests to a holder of mortgage. The bill awaits the governor’s signature.
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Oklahoma adopts amendments to Oklahoma Abstractors Act
Posted Date: Monday, April 26, 2021
The Oklahoma legislature adopted legislation amending the Oklahoma Abstractors Act, including adding a new definition and modifying the provision regarding the retention and release of an abstract. It awaits the governor’s signature. Read on for more details.
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Mob associate sentenced for real estate fraud
Posted Date: Monday, April 26, 2021
A mob associate was sentenced to time in prison and ordered to pay $296,000 in restitution for wire fraud, aggravated identity theft and money laundering. Read on for more details.
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