3 credit
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The Bankruptcy Act of 1898 was the first to give companies in distress an option of being protected from creditors. Since then, the laws and regulations have gone through a number of iterations that effect the consumer in bankruptcy and therefore title issues in real estate transactions for those going through bankruptcy. This course discusses the issues surrounding bankruptcy and foreclosures and the relationship they have to title insurance
If homeowners hold title to real property while under the protection of the Bankruptcy Court or are going through a foreclosure process and are looking to sell or refinance their property, certain underwriting requirements must be met in order to insure the transaction.
The course covers:
- The Bankruptcy Protection Act
- Types of Bankruptcy
- Bankruptcy Procedure
- The Automatic Stay
- Abandonment
- Creditors Rights
- Judicial Liens
- Mortgage Foreclosure
- Certificate of Regularity
- Rights of Redemption
- Special issues in Bankruptcy and Foreclosure
- Tax Sale Procedure
- In Rem Bankruptcy
- In Personam Procedure
- Title Requirements for real estate derived out of bankruptcy
