Land Titles

Do You Examine Wind Farms

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Wind Farms are BIG projects, many acres, many parcels.  If you are searching title, examining or insuring titles to these, what issues are you running into?

Annual Principles of Abstracting Class slated for May 4-5

The annual Minnesota “Principles of Abstracting and Land Records Management” two day course is being offered on May 4th and 5th in St Paul, MN at the Country Inn and Suites. The course is designed for County Recorders, Title Insurers, Abstractors, and those who deal in land titles. Participants have included Homeland Security professionals who place towers on various sites, Dept of Transportation professionals who deal in Right of Way projects, Bureau of Indian Affairs, and various Utility companies that place easements such as Excel Energy and  Comcast.

The two day course will help prepare attendees to improve their land title search skills, stay in touch with changes in laws, or prepare for the state abstractor licensing examination.  Topics this year include foreclosures, short searches and comprehensive name searching. You can register by mail or online at http://www.landrecs.com/pages/seminar-list.php

Real Estate Titles US – Inexpensive Title Education

A new online education company, RealEstateTitles.us (RETUS) has been formed specifically for title professionals. Its purpose is to provide high quality, inexpensive education for those involved with real estate titles. That includes: Closers, Abstractors and Title Searchers, County Recorders, Real Property Attorneys, Title Examiners, Title Agencies and Title Insurance Underwriters. The company offers primarily Professional Development courses for its customers, as most states have no education requirements for these professionals, but also offers some continuing education classes for those states that require CE. Additional License and Pre-license courses are planned for the future.

“RETUS Online courses provide quality education at lower costs for the consumer, as they don’t have to spend money for hotels, meals or travel, and they have the flexibility of working on their own timeframe. Even 15-20 minutes can be very worthwhile in studying important title concepts- and they can enter and exit courses as time allows.” 

The online courses have all been prepared by subject matter experts in the land title field, some being written or edited by Jeanine W. (Jeanne) Johnson. Courses coming soon include

  •  “A Settlement Agents Guide to Closing,” which will cover the full spectum of closing, including the newest changes to the HUD-1 Settlement Statement;
  •   “Introduction to Title Insurance and Land Titles,” that gives a history of title insurance and is a primer of key concepts in the title industry;
  •  “Real Property Ownership and Land Title Use,” which covers legal descriptions, platting, land use controls, rights of the government in planning. Especially helpful in dealing with new construction, land development and commercial properties.

Take a free test drive of the new title education courses for your state by clicking on your state, then the information button on the US MAP.

To Fix the Housing Crisis: Get Rid of Title Insurance?!!

Reuters has an interesting, albeit confusing, article referring to a Fix for the Housing Crisis by reinventing  or getting rid of the title insurance industry. It is a great example of just how misunderstood the title industry is. (Thankfully, Reuter’s says the views expressed are the author’s own.)

The author, Elena Panartis, an institutional economist states:

The United States has a broken registry system, and instead of ever fixing it allowed a title insurance industry to arise as a substitute. Title insurance is non-transparent and (at best) inconsistently regulated, yet it is the main system through which information about property valuation flows. Plus, you have to pay for the information. This leads to all sorts of problems, and fuels speculation.

Some examples of the author’s confusion:

·         She confuses the Australian and Canadian Torrens Systems with the U.S. recording system. Only a few counties in the U.S. have the state sponsored Torrens indemnity program

·         She does not recognize there are 50 separate state recording systems for both land title and liens against people that affect title, and  that title companies simplify these into a single, understandable title product for the secondary market

·         She suggests that title companies set values for property rather than insuring market values established by willing buyers and sellers or an appraiser. Not true.

·         She seems to think information obtained from public offices is free. Not only not free, often difficult to obtain from the myriad of places to search.

It seems we need to do a lot more education with economists to explain what title insurance does and how it makes the housing market safer for the public and better for the economy. The author is a teacher at the university level. She should be more careful in what she says. She does not know the product , nor does she how the systems work.

Why Become a NALTEA Certified Abstractor?

 The Louisiana Land Title Association presents:

“Why Become a NALTEA National Certified Abstractor?”  

Jeanine W. Johnson from the National Association of Land Title Examiners and Abstractors (NALTEA) will be giving a presentation at the Louisiana Land Title Association (LLTA) Conference in New Orleans on December 5th, telling the LLTA about NALTEA and its National Certified Abstractor (NCA) designation and education program.The presentation is designed to encourage LLTA members to join NALTEA and show their level of expertise at the national level. The NCA certification will help them be recognized by national companies as an expert in the field of abstracting and will them to better understand the needs and language of out-of-state customers. In addition, NALTEA helps its members stay current on national real estate trends and changes, and gives an important national voice to independent Abstractors and Examiners.
The 2 hour program is a portion of the educational seminar given at the NALTEA conference in New Orleans earlier this year. The seminar will highlight the study guide “Principles of Abstracting and Land Records Management” National Edition, the same manual that was approved by NALTEA and provided to those who were preparing to take the NALTEA certified abstractor exam at the conference.

While every state handles land titles a bit differently, the seminar will focus on variations of a theme including things like “What is the difference between a mortgage and a deed of trust?” and “What are the most common forms of ownership used in the U.S.? ”

Jeanne Johnson is an active associate member of NALTEA. After having spent thirty years in the title industry she has been an author and subject matter expert for various publishers relating to title insurance, abstracting, title examination, and closing and she is now a full time educator for the land title industry and owner of

www.RealEstateTitles.us (RETUS) a content-specific website with reasonable, online education for the abstracting, title insurance, closing and land title industries.

Iowa Stops Access to Online Public Land Record Documents

by Robert Franco, Source of Title

Reprinted with Permission

 

Website Stripped of Sensitive Information

The governing board of the Iowa Land Records Website chose to restrict all access to records maintained on the site after a public backlash led to concerns by lawmakers and residents alike. Last week, the site indicated that it would ignore the request of Governor Chet Culver to block access to the records because many contained sensitive information like Social Security numbers.

Yet, officials indicated that its previous actions had failed to reduce fears of identity theft and privacy concerns and, thus, suspending access to the records was necessary.

Visitors to the site discover a statement from the operators indicating that “…until further notice all document images are restricted and cannot be accessed through this Website.” Phil Dunshee, one of the site’s project managers, said in a press release that access to the records would be suspended indefinitely.

“Recorders sincerely regret the disruptive impact this will have on people in the real estate industry,” Dunshee said. “It’s really the last place they wanted to go, but at this point, I don’t really think they have any further choice.”

Despite providing useful information to real estate professionals, many expressed support for the actions undertaken by the site’s operators.

“As mortgage lenders, we are seeing more and more identity theft on credit reports, so it’s imperative that Social Security numbers be redacted from those old documents,” said Christy Allison, the president of Iowa Mortgage Association, in an interview with The Des Moines Register.

Culver and Michael Maurro, the secretary of state, both had their Social Security numbers listed in documents that were maintained on the Website. After learning this, Culver asked the site to remove his information and block access to documents containing people’s private information last week. The site attempted to block access to thousands of records that contained sensitive information after receiving his request, but apparently failed to adequately do so. Thus, the operators decided to shutdown all access this week.

Info On Home Closing

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