DATE: June 1, 2022 TO: AGENTS OF TEXAN TITLE INSURANCE COMPANY FROM: TEXAN TITLE INSURANCE COMPANY UNDERWRITING COUNSEL RE: AGENT’S REQUEST FOR AUTHORIZATION (OVERLIMITS FORM) ________________________________________ Attached is the current version of the TTIC “Agent’s Request for Authorization” form, commonly known as the “Overlimits” form. Please delete any prior version of the form which is […]
DATE: June 1, 2022 TO: AGENTS OF TEXAN TITLE INSURANCE COMPANY FROM: TEXAN TITLE INSURANCE COMPANY UNDERWRITING COUNSEL RE: MV Realty, LLC ________________________________________ Please be alert for filings by a company known as MV Realty of Texas LLC. The document in question may be titled “Memorandum of MVR Homeowner Benefit Agreement.” A copy of a […]
DATE: June 1, 2022 TO: AGENTS OF TEXAN TITLE INSURANCE COMPANY FROM: TEXAN TITLE INSURANCE COMPANY UNDERWRITING COUNSEL RE: USE OF R-18; INSURING PERMANENT CONSTRUCTION LOANS ________________________________________ There is a specific rate rule (R-18) which applies to insuring a permanent construction loan when a LP was issued insuring the interim construction loan. The permanent LP […]
Date: June 1, 2022 To: AGENTS OF TEXAN TITLE INSURANCE COMPANY From: TEXAN TITLE INSURANCE COMPANY UNDERWRITING COUNSEL RE: DEEDS INTO AND FROM TRUSTS ________________________________________ A trust is not a legal entity. In order to convey or take title a trust must act by and through its trustee(s). Recent court decisions have addressed the consequences […]
Date: March 14, 2022 To: AGENTS OF TEXAN TITLE INSURANCE COMPANY From: TEXAN TITLE INSURANCE COMPANY UNDERWRITING COUNSEL RE: INSURING AFTER AD VALOREM TAX SALES ________________________________________ Insuring any transaction where there is a tax sale deed in the chain presents an out of the ordinary risk. Please take note of the following guidelines. 1. Verify […]
Date: March 4, 2022 To: AGENTS OF TEXAN TITLE INSURANCE COMPANY From: TEXAN TITLE INSURANCE COMPANY UNDERWRITING RE: SOURCE OF TITLE/SEARCH GUIDELINES Our search guidelines are as follows: Guideline 1: When you have an Owner’s Policy issued by a licensed Texas underwriter insuring the party now vested in title: A. If your company issued the […]
Date: February 16, 2022 To: AGENTS OF TEXAN TITLE INSURANCE COMPANY From: TEXAN TITLE INSURANCE COMPANY UNDERWRITING RE: PRETENDED SALES – INCREASED RISK WHEN TRANSACTIONS INVOLVE FAMILY MEMBERS Home equity lending was legalized in Texas on January 1, 1998; for the first time Texans could place a lien on their homestead to secure a cash […]
