Legislative Developments

The Colorado Legislature is considering a bill concerning deeds for the conveyance of real property. The bill seeks to establish requirements for title insurance entities that prepare deeds and establish forms for the preparation of deeds in certain circumstances. Read on for more details.

The Virginia General Assembly is considering a bill that relocates the existing provision that prohibits the paying or receiving of kickbacks, rebates, commissions, things of value or other payment pursuant to an agreement to refer business incident to a settlement, authorizing the State Corporation Commission to impose penalties, issue injunctions and require restitution in cases where a person who does not hold a license from the appropriate licensing authority has violated the provision. Read on for more details.

The New York Assembly is considering a bill that would require notaries public and commissioners of deeds to complete and retain certain documents relating to the transfer of residential real estate. Read on for more details.

The Indiana General Assembly is considering a bill that would require that before selling property at a sheriff’s sale, the sheriff would have to advertise the sale by posting a notice of the sale on a website maintained by the county in which the real estate is located or the office of the sheriff. Read on for more details.

The Virginia General Assembly is considering a bill that would require property disclosures furnished by sellers to buyers that the seller of the residential real property makes no representation to the condition of the real property nor representation with regard to any conveyance of mineral rights. Read on for more details.

The New York State Assembly will consider a bill that would clarify that providing a benefit with the intention to compensate or offer compensation for any past or present placement for a particular piece of title insurance business by a title insurance corporation or agent is a prohibited illegal inducement under Section 6409(d) of the insurance law. This bill seeks to clarify the law in response to rulemaking by the state’s Department of Financial Services that would eliminate the requirement that a quid pro quo be present. Read on for more details.

The Virginia General Assembly is considering a bill that would allow clerks to refuse to record liens or encumbrances under certain conditions. Read on for more details.

Included in appropriation bills passed by the House last week to reopen the government was a requirement for the Financial Crime Enforcement Network to issue a report on the Geographic Targeting Orders issued since 2016. While the specific bill is unlikely to pass through the Senate, the provision may make it into the final agreement that does get signed by the president. Read on for more details.

When it returns on Jan. 9, the New York State Assembly will consider a bill that would create the title insurance assessment relief act, which was introduced by the chair of the state Assembly Standing Committee on Insurance. Read on for more details.

The Indiana General Assembly will consider a bill that would require additional identifying information be included when recording a judgment lien and requires that a judgment lien be extinguished when certain items are recorded with the county recorder. Read on for more details.