The Orange County Register The Orange County RegisterDouglas Garhartt and Brandon Lively were just settling in to the ocean-view San Clemente townhome they bought in March when suddenly they were faced with the threat of eviction.
Less than a week after they closed sale on the condo, it turned out, a small group of investors had purchased the same property — at a foreclosure auction.
How could that have happened? How could one home have been sold to completely different buyers?
Both sides say they did everything right. Both sides have deeds. And both sides are in court right now, trying to sort out the mess.
‘Why are you getting evicted?’
Garhartt said he and Lively were thrilled when they bought their 3-bedroom condo on March 11. The seller had been in default on his mortgage and Garhartt and Lively purchased the place as a short sale for $365,000, far less than the $712,552 the seller owed on the loan.
But on March 15, records show, the bank that was involved in the short sale sold the same property at auction for $346,896.
Posted via email from Title Insurance For a survey of real property, and the plat, map or record of such survey, to be acceptable to a title insurance company for the purpose of insuring title to said real property free and clear of survey matters (except those matters disclosed by the survey and indicated on the plat or map), certain specific and pertinent information must be presented for the distinct and clear understanding between the insured, the client (if different from the insured), the title insurance company (insurer), the lender, and the surveyor professionally responsible for the survey. In order to meet such needs, clients, insurers, insureds, and lenders are entitled to rely on surveyors to conduct surveys and prepare associated plats or maps that are of a professional quality and appropriately uniform, complete, and accurate. To that end, and in the interests of the general public, the surveying profession, title insurers, and abstracters, the ALTA and the NSPS jointly promulgate the within details and criteria setting forth a minimum standard of performance for ALTA/NSPS Land Title Surveys. A complete 2016 ALTA/NSPS Land Title Survey includes: by Jeanne Johnson of LandRec.com According to Builder Online, HUD has delayed the implementation of RESPA that was to go into effect on Jan. 16th by 90 days. HUD agreed to the delay to assemble info it needs to defend against another lawsuit , this one brought on by he National Association of Home Builders (NAHB) and other plaintiffs, including 13 large builders and their affiliated lenders and title companies. HUD’s published final rule eliminates builders from offering home buyers incentives if the buyers are linked into using an affiliated title company, mortgage company, or other affiliated service provider. The NAHB suggests that dismantling these affiliations will not help the consumer and will additionally lead to job losses.
Continuing Ed for Title Agents
Survey Standards Course Approved in Pennsylvania
2 credits. Members of the American Land Title Association® (ALTA®) have specific needs, unique to title insurance matters, when asked to insure title to land without exception as to the many matters which might be discoverable from survey and inspection, and which are not evidenced by the public records. This course discusses the standards associated with those surveys.Click Here to Enroll
(i) the on-site fieldwork required pursuant to Section 5,
(ii) the preparation of a plat or map pursuant to Section 6 showing the results of the fieldwork and its relationship to documents provided to or obtained by the surveyor pursuant to Section 4,
(iii) any information from Table A items requested by the client, and
(iv) the certification outlined in Section 7.
Gary Kent is Director of Surveying at The Schneider Corporation, a 42-year-old consulting firm based in Indianapolis providing solutions in surveying, GIS, 3D graphics, architecture, and civil, municipal and transportation engineering. A past-president of both ACSM and the Indiana Society of Professional Land Surveyors, Gary has a BS degree in Land Surveying from Purdue University and is registered to practice surveying in Indiana and Michigan. He is chair of both the NSPS/ACSM committee and the ALTA committee on the ALTA/ACSM Standards. He currently sits on the Indiana State Board of Registration for Land Surveyors and is also a member of the adjunct faculty at the Purdue campus in Indianapolis where he teaches Land Survey Systems, Legal Descriptions, Boundary Law and Property Surveying.Click Here to Enroll
RESPA – On Again, Off Again… Another Lawsuit Filed