title examination

American Ingenuity is Still at Work in Courthouses

I was in Michigan last week speaking to an amazing group. The company developed special cameras, made in Germany, to take to Courthouses around the country to image public records. The amazing thing is that their cameras read the humps and bumps in those enormous tract books by refocusing the images as they cross the page. In other words, they don’t have to take the books apart. They work in teams, 24/7, traveling with the cameras to wherever they are needed. Some of the team scan the pages, others carefully proof the images for clarity, and they can even create the grantor grantee books and tract books. I am very proud of these people. Lets keep our jobs in the US and lets continue to invent new and better ways of doing the same old tasks.

Thoughtful Article Relates Directly to the Title Business

We all know the title business has changed. Not long ago title insurance was a thorough, labor intensive search of title that uncovered and then repaired title for the homeowner. Now it is an outsourced take-a-quick-peek-at-the-last-deed-of-record and put out a title commitment. Then when all those unresolved problems show up, let’s-just-insure-over-all-those-title- problems-until-they-go-away! I personally feel that the title underwriters have taken a shortcut by no longer researching the title. Yes, it does save the shareholders money up front, but in the long run, will it cost more in claims than the savings.

Forbes Magazine has a great article, Why Amazon Can’t make a Kindle” on what can happen with outsourcing. I see a lot of parallels with the title industry as we outsource posting of title plants and preparation of title commitments. We are losing the skilled trade abstractors, closers, and examiners to save a buck. No one is teaching basic skills any more. I’ll be interested in what you think.

State Abstractor Exam – I passed!

I just got through with the exam and I passed. I think it was close though. It was tougher than I imagined it would be. The main stumbling block was the wording of the questions. You warned us about that. Two were questions I should have been able to answer easily, survey questions, but they were worded in a way I couldn’t understand.

I was allowed 240 minutes to complete the exam. Way more than enough time. I went through each question carefully at least twice and finished in 64 minutes. It was a computer exam and the results were provided upon completion.

Your seminar was crucial in my passing the exam. The material was a great studying guide. I think I have read through it about a dozen times over the last 3 days. Now I just have to get that insurance figured out…. Thanks,

Matt Young

CERCLA Case Names “Owner” as Holder of Title at Time of Response-Recovery

In California v. Hearthside Residential Corp. a Comprehensive Environmental Response and Liability Act case, a Defendant argued that “owner” status is determined as of the time the lawsuit was filed, not when cleanup costs were incurred; thus, he was not liable as an owner because he sold the property before suit was filed.

The district court and the appellate court disagreed, ruling that “owner” status under CERCLA is determined at the time a response-recovery claim accrues, not when a lawsuit is initiated.  See more at Lexology

Info On Home Closing

Home Closing 101: An Educational Initiative of the American Land Title Association