Title Insurance

News & Analysis as of

Real Property, Financial Services & Title Insurance Update: Week Ending September 25, 2015

REAL PROPERTY UPDATE - Foreclosure/Standing: plaintiff failed to meet the requirement of pre-suit ownership for standing where, although assignment contained a purported effective date before complaint was filed, it was...more

New Rhode Island Acquired Real Estate Company Conveyance Tax Leaves Many Unanswered Questions

Effective July 1, 2015, Rhode Island now imposes a realty conveyance tax on the transfer of controlling interests in a “real estate company,” in addition to any other state taxes. Under prior law, if a person or business...more

Real Property, Financial Services & Title Insurance Update: Week Ending September 18, 2015

REAL PROPERTY UPDATE - Default Judgment/Voidable: because default judgment was merely voidable, rather than void, where complaint upon which judgment was based failed to state a cause of action, Rule 1.540(b) was not...more

Real Property, Financial Services & Title Insurance Update: Week Ending September 11, 2015

REAL PROPERTY UPDATE - Adverse Possession: appellant entitled to judgment quieting title in her favor because appellant’s predecessor in title had adversely possessed disputed strip of land by having it enclosed by a...more

Playing Hot Potato: Indemnity Strikes Again

Indemnity can be like playing hot potato (for those of you closer to the Minecraft generation, in the game of hot potato, a metaphoric “hot potato” is tossed between (ahem amongst) players while music is playing, and when the...more

Ninth Circuit Rules Against Title Insurer in Long-Running RESPA Litigation

On August 24, the Ninth Circuit held that a title insurer’s equity investments in title agencies in exchange for agreements that the agencies would refer customers to the insurer violated the anti-kickback provisions of the...more

District Court Won’t Allow Insurer To “Repackage” Its Breach Of Utmost Good Faith Claims

We previously reported on Old Republic National Title Insurance Co. v. First American Title Insurance Co., in which the court partially dismissed First American’s claim for breach of good faith and fair dealing to the extent...more

Morris Agreement Ruled Unenforceable In Mechanics’ Lien Dispute

A “Morris agreement” between a title insured and mechanics lien claimants was unenforceable, because the agreement wasn’t an arms-length transaction, and the settlement left the insured without any risk of personal liability,...more

Real Property, Financial Services & Title Insurance Update: Week Ending September 4, 2015

REAL PROPERTY UPDATE - Foreclosure/Standing: party whose motion to intervene in foreclosure action was denied did not have standing to appeal final judgment of foreclosure – Market Tampa Investments, LLC. V Stobaugh,...more

Real Property, Financial Services & Title Insurance Update: Weeks Ending August 21 & 28 , 2015

Foreclosure/Statute of Limitations: statute of limitations did not bar foreclosure action even though filed more than five years after breach and acceleration of note upon which previous foreclosure action that had been...more

Real Estate News - August 2015

Coming Soon… New Closing (no, Consummation…) Rules! Now Starting October 3, 2015 Instead of August 1, 2015 - What?! We can’t call it a closing anymore? Under new federal regulations regarding the Truth in Lending Act...more

Title Insurance: When Does a Construction Lender “Create” or “Suffer” a Mechanics Lien?

BB Syndication Services, Inc. v. First American Title Ins. Co., 785 F.3d 825 (7th Cir. 2015) – A construction lender sued a title insurance company seeking defense and indemnification in connection with claims in a...more

Fill the Gap Between You and Your Property Rights - Emerging Issues in Title Insurance

Hall Eady and Spencer Mobley from the Firm’s Title Insurance Litigation Team discussed emerging issues in the world of title insurance including recent interpretations of key terms and conditions in standard form lender’s...more

Does a title company owe a duty of care to third parties in the recording of legal instruments?

This is precisely the question that the Ninth Circuit recently certified to the Washington Supreme Court in Centurion Properties III, LLC v. Chicago Title Ins. Co. Facts of the Case - In this case, Centurion...more

Title Insurance Regulatory and Legislative Update August 2015

NATIONAL ASSOCIATION OF INSURANCE COMMISSIONERS - Title Insurance Task Force Conference Call: In advance of the upcoming Summer National Meeting in Chicago, the Title Insurance Task Force (“Task Force”) held a conference...more

Real Property, Financial Services & Title Insurance Update: Weeks Ending July 31 & August 7, 2015

Foreclosure: non-borrower owner of real property as tenants-in-common with borrower not required to sign mortgage for borrower to encumber only his interest in the property and non-borrower’s signature on mortgage reflected...more

Real Property, Financial Services & Title Insurance Update: Weeks Ending July 10, 17 & 24, 2015

REAL PROPERTY UPDATE - Eviction/Summary Judgment: Error to grant summary judgment where plaintiff failed to refute multiple affirmative defenses including an assertion that the eviction would cause an inequitable...more

Rules Against Title Insurer on Date of Loss Issue

In the recent decision in First American Title Insurance Co. v. Johnson Bank, 1 CA-CV 14-0190, 2015 WL 3965740 filed June 30, 2015, the Arizona Court of Appeals held that the date for calculating a loss under a lender’s title...more

Obtaining Title Insurance on Construction Loans: Avoiding Pitfalls Regarding Title Insurance Underwriting for Construction Loans

Avoiding Pitfalls in Construction Mortgages: Top 5 Tips for Title Insurance Underwriting - Construction mortgages pose significant risks for title insurers and require specific underwriting analysis. Avoid the...more

District Court Dismisses Breach Of Duty Of Utmost Good Faith Claims Unrelated To Breach Of Contract In Reinsurance Dispute

The Middle District of Florida recently granted in part and denied in part plaintiff Stewart Title Guaranty Company’s (“Stewart Title”) motion to dismiss defendant First American Title Insurance Company’s (“First American”)...more

Real Property, Financial Services & Title Insurance Update: Weeks Ending June 26 & July 3, 2015

REAL PROPERTY UPDATE - Standing: parent entity has no right to enforce note and mortgage owned by subsidiary entity absent evidence that parent entity acquired such right – Wright v. JPMorgan Chase Bank, N.A., Case No....more

Seventh Circuit Limits Construction Lender’s Use of Title Insurance Policy to Cover Construction Liens Created by Lender’s Cutoff...

In a recent decision written by Judge Sykes, affirming a decision from the Western District of Wisconsin, in an issue governed by Wisconsin law, the Seventh Circuit ruled that a title insurer has no duty to indemnify a...more

Real Property, Financial Services & Title Insurance Update: Weeks Ending June 19, 2015

REAL PROPERTY UPDATE: Tax Deed Sale/Due Process: after certified letter notifying property owner of tax deed sale returned unopened and unclaimed, due process required clerk of court take reasonable steps to notify...more

Real Property, Financial Services & Title Insurance Update: Weeks Ending June 5 & 12, 2015

REAL PROPERTY UPDATE - Lien Priority: claimant’s judgment lien related back to recording of lis pendens and therefore took priority over competing judgment lien obtained after lis pendens but before entry of claimant’s...more

Real Property, Financial Services & Title Insurance Update: Weeks Ending May 22, 2015

REAL PROPERTY UPDATE - Duty to Disclose/Vacant Property: plaintiff failed to present competent, substantial evidence of existence of fact materially affecting value of property and did not prove defendants had actual...more

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