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Last update: Mar 20, 2007
Sheppard Mullin: Trends in Real Estate and Title Insurance Dec 06, 2005
Winstead: Roland Love Dec 02, 2005
General Commercial Litigation Title Defense and Real Property Disputes Southern Methodist University, Dedman School of Law J.D., 1977 Editor, Southwestern Law Journal; Thomas P. McElroy Award, Texas Civil Practice Texas Aersity B.S., summa cum laude, 1974 College of Engineering Outstanding Senior Award; Department of Electrical Engineering Bolton Award; National I.E.E.E. Outstanding Student Paper State Bar of Texas; Dallas Bar Association: Alternative Dispute Resolution, Legal Ethics Committee
Musick Peeler & Garrett: AN EXCESS INSURER?S DUTY TO DEFEND: IN SUSPENDED ANIMAT... Nov 01, 2005
In Coverage Action I, policyholder Eaton designated its excess insurers as “Doe Defendants.” Eaton alleged that the excess insurers would be liable for the amount in excess of the limits of primary insurance available and would provide a duty to defend if there were no applicable primary insurance or the primary insurance had exhausted. On appeal, the Court of Appeal took issue with the trial court’s conclusion that the verified Complaint in Coverage Action I established that the CNA Defendants
Sidley Austin: Bowne Insurance and Financial Services Report - Fall 20... Oct 01, 2005
INSURANCE AND FINANCIAL SERVICES REPORT. STATE-BASED INSURANCE REGULATION IS RESPONSIVE AND EFFECTIVE By: Diane Koken Pennsylvania Insurance Commissioner and President of the National Association of Insurance Commissioners Introduction State insurance regulators are public servants who recognize the importance of regulation that balances the need for vigorous consumer protection with vigorous business competition to provide a healthy insurance marketplace for consumers
Seyfarth Shaw: Job Law Provides Relief to REITs Apr 11, 2005
Blank Rome: Consumer Lending / Retail Banking Update Apr 01, 2005
Contents: Latest RESPA Developments Title Insurance Probes; Who Will Be The Subject Of An Investigation Next. Illinois Court Analyzes RESPA Employee Exemption New Jersey Department of Banking And Insurance To Define Suitable Office Locations Court Grants Summary Judgment In FCRA Class Action Based On Verbal Notice of Adverse Action Bankruptcy Court Rules That Equity Principles Allow Flexibility In Molding TILA Rescission Remedies Latest RESPA Developments Title Insurance Probes; Who Will Be The
Blank Rome: Affordable Housing and Community Development Update Apr 01, 2005
Although not considered “displaced persons,” these temporarily displaced occupants must still be treated fairly under the URA. Any tenant displaced from a residence for a period in excess of one year is deemed to be a displaced person and entitled to full permanent relocation assistance. Relocation assistance planning is not an entitlement program, but rather a reimbursement program designed to provide assistance in relocating to a new site
Goodwin Procter: Financial Services Alert Feb 08, 2005
The standards set forth in the Guidelines are promulgated as national bank safety and soundness standards pursuant to Section 39 ("Section 39") of the Federal Deposit Insurance Act (the "FDIA"). In addition, the OCC has authority to enforce the Guidelines under Section 8 of the FDIA by such severe measures as termination of deposit insurance, cease and desist orders, and suspension or removal of officers and directors (if the failure to comply constitutes an unsafe or unsound practice), and
Greenberg Traurig: Tax-Free Exchanges: They're Worth a Look Jan 01, 2005
Most large title insurance companies have 1031 exchange subsidiaries that serve as a QI. (A word of caution: There are many small 1031 exchange companies that offer QI services, however, you need to keep in mind that the QI will be holding the proceeds of the sale, possibly for six months, and most feel more comfortable with a large title insurance company holding the funds). That comfort level will frequently depend upon the seller's ability to transfer his rights to insurance
Gibbons: Know What Your Client is Buying Sep 27, 2004
Real Estate Title Insurance. purchaser of real property, and the contract contains title, mortgage and inspection contingencies
Blank Rome: Summer 2004 Jul 01, 2004
The Department of Banking and Insurance may issue regulations to effectuate the entire Act as opposed to only the section dealing with consumer credit counseling and awareness. The Fair and Accurate Credit Transactions Act of 2003 requires the Federal Reserve Board, Office of the Comptroller of the Currency, Federal Deposit Insurance Corporation, Office of Thrift Supervision, National Credit Union Administration, Securities and Exchange Commission, and FTC, in coordination with one another, to
Winstead: Handling Financing Issues Apr 22, 2004
12 Life Insurance Companies and Pension Funds. 19 Title and Survey Review
Gibbons: Capitol Connection Mar 05, 2004
This law allows the use of checks written on the trust account of a licensed New Jersey attorney or a trust or escrow account check from a New Jersey licensed title insurance producer to be considered "collected funds" for the purposes of the statute concerning the disbursement of funds by title insurance producers in real estate transactions. Pursuant to the statute amended by this law, licensed title insurance producers must deposit loan proceeds in a separate trust or escrow account, and may
Sills Cummis: Lester M. Bliwise - Mezz Loans: The New Second Mortgage Dec 16, 2003
Since a mortgage is not given at the time of the closing, the mezz lender does not obtain a traditional title-insurance policy. The lender should ensure that the borrower has title insurance sufficient to protect its equity investment
Pillsbury Winthrop: Real Estate Newsletter (Fall 2003) Nov 21, 2003
Ted Sprink, a Senior Vice President of Fidelity National Title, a Pillsbury Winthrop client, contributes an article on mezzanine financing, which describes, among other things, the creation of a new product for a perceived void in perfecting security interests. -- Theodore H. Sprink Senior Vice President, Fidelity National Title PERFECTING THE SECURITY INTEREST The mezzanine market segment is commonly linked to income-producing commercial real estate, such as a shopping center, hotel, office
Sheppard Mullin: The Commission Strikes Back: The FTC Task Force Report ... Oct 01, 2003
In its 1992 Ticor decision, dealing with whether the filing of collectively determined insurance rates were immune from price fixing claims under the state action doctrine, the Supreme Court held there was no immunity for private parties from such price fixing claims due to the failure to meet the active supervision requirement. FTC v. Ticor Title Insurance Co., 504 U.S. 621 (1992)
Gibson Dunn: USA PATRIOT Act Proposed Anti-Money Laundering Complian... Apr 10, 2003
...g., real estate brokers, attorneys who represent buyers or sellers, banks, mortgage brokers or other financing entities, title insurance companies, escrow agents, and appraisers) should be covered by or exempted from the rule; the money laundering risks related to real estate closings and the safeguards that already are in place or could be put in to place to protect the industry from these risks; and how to structure the money laundering program requirements Treasury does not anticipate that
Severson & Werson: Consumer Law Report - Spring 2003 Apr 01, 2003
Arbitration Update New Case Decisions No-Class Action Arbitrations Mortgage Lending Update Upcharge This Fax Fee Class Action Tossed Legislation Lien Length Title Insurance and Fraud Volume Discounts Don t Violate RESPA Bankruptcy Update Garske Affirmed Automobile Finance Update LaChapelle and Bescos: Is it Safe To Go Back into the Water. FCRA Preempts Private Action Under California s Act Acquisition Fee Litigation: D;j; Vu All Over Again Errata Download a PDF of this newsletter
Greenberg Traurig: USA PATRIOT Act ? Treasury Department Solicits Comment ... Apr 01, 2003
Barring sufficient industry pressure or Congressional action, real estate agents, mortgage brokers, real estate attorneys, title insurance agents, and the like very well might be joining insurance companies, unregistered investment companies such as certain REITs, venture capital funds and hedge funds, travel agencies, automobile and boat dealers, casinos and jewelers to the list of non-bank financial institutions that can expect to have some type of AML program requirement in place before the
Saul Ewing: "Will the Terrorism Risk Insurance Act of 2002 All... Feb 01, 2003
Will The Terrorism Risk Insurance Act of 2002 Alleviate the Insurance Crisis Resulting From the 9/11 Attacks. The September 11 attacks significantly impacted the real estate industry in relation to the growing demand for, and unavailability of, terrorism risk insurance
Goodwin Procter: Referendum on RESPA Reform Feb 01, 2003
...costs should be excluded from the GMPA. For example, with respect to excluded costs, several lender groups, including MBA, argued that the GMP cost amount should not include discount points, lock-in fees, mortgage insurance and flood insurance. On the other hand, the American Land Title Association (ALTA) asserted that HUD has no authority to pre-empt any state laws that govern the title insurance industry, and advised HUD that pre-emption of any state law
Blank Rome: Title Policy Protects Purchaser Against His Own Tax Lie... Jan 01, 2003
Title Policy Protects Purchaser Against His Own Tax Lien Search: Advanced Search Title Policy Protects Purchaser Against His Own Tax Lien by HARRIS OMINSKY Harris Ominsky is a partner in the law firm of Blank Rome LLP. He is the author of a new book, "Real Estate Practice: Breaking New Ground," published by the Pennsylvania Bar Institute. A recent case held that a title policy can be read to protect a purchaser even against his own tax lien
Dewey Ballantine: Impact Of The Terrorism Risk Insurance Act Of 2002 On U... Dec 09, 2002
Dewey Ballantine: Impact Of The Terrorism Risk Insurance Act Of 2002 On P... Dec 05, 2002
Kirkland & Ellis: Sale-Leaseback Offers Compelling Alternative Nov 25, 2002
Reed Smith: Yield-spread premiums & upcharges: Where do we stand? Nov 01, 2002
The court observed that if plaintiffs can establish that the broker provided no compensable services, a violation is probably made out-, if not, plaintiffs can still establish entitlement to damages if they can show that any part of the total payment to the borrower, including the YSP, is excessive. To put this in context, several court challenges to such a practice have been raised, the most recent of which was rejected by the 7th Circuit Court of Appeals in Echevarria v. Chicago Title and
Jackson & Campbell: October 2002 Oct 01, 2002
That case, John Stevens v. United General Title Ins (D.C. App. No. 00-CV-1235) was denied an "en banc" hearing which is welcome news to the insurance industry
Shearman & Sterling: English translation* Oct 01, 2002
TABLE OF CONTENTS Introduction General Background A. Multiplicity of Legal systems B. Choice of Law C. Evolution of the Law in England D. Evolution of the Law in the United States Creating the Mortgage A. Mortgages B. Title vs. Lien Theory C. Deeds of Trust Perfecting the Mortgage A. Recording Statutes B. The Torrens System C. Mortgage Recording Taxes Priority Issues A. Future Advances B. Mechanics' Liens Title Insurance A. Policy Forms and Coverages B. Endorsements and Policy Exclusions Special
Shearman & Sterling: German translation* Oct 01, 2002
...die Eigentumstheorie (title theory) die Pfandrechtstheorie (lien theory) und die vermittelnde Theorie (intermediate theory). Nach englischem Recht begründete eine Hypothek ursprünglich ein Eigentumsrecht (title), bedingt durch Rückzahlung der gesicherten Forderung bei Fälligkeit
Blank Rome: FLSA and Financial Services Organizations: What To Know Oct 01, 2002
...com In this age where everyone seems to know at least something about employment discrimination laws - such as the Americans With Disabilities Act, Title VII of the Civil Rights Act and the Age Discrimination in Employment Act - and the rather hefty liability often associated with them, employers tend to be less concerned with, and less educated about issues associated with the Fair Labor Standards Act (FLSA). As to overtime, the initial presumption is that all employees are entitled to it
Blank Rome: Fall 2002 Oct 01, 2002
The 2001 SOP was a direct response to the decision in Echeverria v. Chicago Title Co., 256 F.3d 623 (7th Cir. g. application, origination and underwriting services, the appraisal, pest inspection, flood review, title services and insurance, and any other lender required services except hazard insurance, per diem interest, and escrow deposits); a mortgage loan with an interest rate guarantee, subject to change (prior to borrower lock-in) only pursuant to market changes evident from an observable
Hogan & Hartson: "When It Comes to Deeds: It Pays to Pay Attention.... Sep 20, 2002
While each type of deed is effective to convey the seller's title and interest in the property to the buyer, there are significant differences between each. Such warranties cover title matters that may negatively affect the property, such as unknown easements, encroachments, or other interests in the property
Goodwin Procter: Analysis of New Proposed RESPA Rule Aug 06, 2002
" Packaged services are settlement services that the lender requires for settlement and includes all services except per diem interest, hazard insurance, and escrow/reserves. Thus, the services whose costs are included in the GMP include, without limitation, all application, origination, underwriting, appraisal, pest inspection, flood and tax review, title services and insurance, document preparation, and any other lender required services, as well as governmental charges. Optional settlement
Kirkpatrick & Lockhart: HUD?s Proposed RESPA Reform Package: Is the ?Solution?... Aug 06, 2002
Those categories include shoppable lenderrequired third-party services, borrower-selected title services and insurance if the borrower selects the provider identified by the loan originator, and reserves/escrow deposits. Variations in costs for per diem interest, hazard insurance, and optional owners title insurance are not subject to any express restrictions or a range of tolerance
Jackson & Campbell: August 2002 Aug 01, 2002
That case, John Stevens v. United General Title Ins (D.C. App. Since the title company did not advise the bank of the problem within that period, the title company could not claim credit for a forged check
Saul Ewing: "Pennsylvania Real Estate Upset Tax Sales" Aug 01, 2002
While Tax Claim deeds are valid, some title insurance companies will not insure them, so it may be necessary for the purchaser to file an action to quiet title against the former owner to get insurable title. The mortgagee should clearly express its intention not to merge the mortgage into the tax title
Greenberg Traurig: Timeshare Goes Global Aug 01, 2002
Buyers receive a document specifying their interest in the legal title to the property in the timeshare plan. Timeshare licenses are substantially the same except that purchasers receive no documentation stating that they have a direct interest in the title to the real estate in question
Jackson & Campbell: June 2002 Jun 01, 2002
In John Stevens v. United General Title Ins (D.C. App. the present case may warrant en banc consideration". Click Here for slip opinion of Stevens v. United General Reminder: D.C. Companies Must Get Master Business Licenses Until now, title companies and other businesses did not need to be licensed in D.C. That has changed. All businesses in D.C. that earn more than $2000/yr (including non-profits) will be required to secure such a license. The online application process does not work, but the
Preston Gates & Ellis: USA Patriot Act Includes New Anti-Money Laundering Requ... May 30, 2002
However, if you are an investment bank, pawnbroker, dealer in precious metals, jeweler, finance company, venture capital fund, small business investment company, insurance company, travel agency, title insurance company or seller of boats, airplanes or automobiles, you now may be deemed a financial institution subject to USAPA. USAPA (Public Law 107-56), enacted in the aftermath of September 11, 2001, requires financial institutions to take new steps to identify money laundering activities by
Hodgson Russ: Should You Include Preemptive Rights In Your Articles O... May 20, 2002
He was a former partner with Osborne Hankins MacLaren and Redgrave and since 1984 he has been approved as a title agent for Attorney’s Title Insurance Fund, Inc. Formerly, Mr. Wenzel was a sole practitioner in Boca Raton. He has been a member of The Florida Bar since 1982
Greenberg Traurig: Precautions Against "Cherry Picking" for Deve... May 01, 2002
Stuart Title Guaranty Co. v. Old Republic National Title Insurance Co., 83 F.3d 735, 741 (5th Cir. 1996)
Saul Ewing: "Summary of Insurance Legislation Passed by the 20... May 01, 2002
SUMMARY OF INSURANCE LEGISLATION PASSED BY THE 2002 MARYLAND GENERAL ASSEMBLY. LAURA L. KATZ, ESQUIRE SAUL EWING LLP 100 SOUTH CHARLES STREET BALTIMORE, MARYLAND 21201-2773 (410) 332-8808 LKATZ@SAUL.COM _____________________ CONSTANCE B. FOSTER, ESQUIRE SAUL EWING LLP PENN NATIONAL INSURANCE TOWER 2 NORTH SECOND STREET, 7TH FLOOR HARRISBURG, PENNSYLVANIA 17101-2186 (717) 257-7560 CFOSTER@SAUL.COM Visit our web site at www
Jackson & Campbell: April 2002 Apr 01, 2002
Jackson ell P.C. Newsletter for the Title and Real Estate Industries Jackson & Campbell P.C. Newsletter April, 2002 Dear Real Estate Professional: The industry continues to face rapid changes in District of Columbia law, new procedures, forms and policies. It can now be filed at the ROD. There is no longer a place for title/mortgage companies to log into the ROD website
Blank Rome: Spring 2002 Apr 01, 2002
WHAT EVERY FINANCIAL SERVICES ORGANIZATION SHOULD KNOW ABOUT PAYING ITS EMPLOYEES In this age where everyone -- employer and employee -- seems to know at least something about employment discrimination laws -- such as the Americans With Disabilities Act, Title VII of the Civil Rights Act and the Age Discrimination in Employment Act -- and the rather hefty liability often associated with them, employers tend to be less concerned with, and less educated about, issues associated with the Fair Labor
Paul Weiss: Joint Venture Exit Mechanisms Allow Partners to 'C... Mar 25, 2002
NEW YORK LAW JOURNAL REAL ESTATE INSURANCE Monday, March 25, 2002. of the value of the venture's real estate in order to account for the partner's lack of control
Shaw Pittman: Insurance and Risk Management for IT Projects Mar 01, 2002
Shearman & Sterling: Commercial Real Estate Lending in the United States* Feb 02, 2002
TABLE OF CONTENTS Introduction General Background A. Multiplicity of Legal systems B. Choice of Law C. Evolution of the Law in England D. Evolution of the Law in the United States Creating the Mortgage A. Mortgages B. Title vs. Lien Theory C. Deeds of Trust Perfecting the Mortgage A. Recording Statutes B. The Torrens System C. Mortgage Recording Taxes Priority Issues A. Future Advances B. Mechanics' Liens Title Insurance A. Policy Forms and Coverages B. Endorsements and Policy Exclusions Special
Allen Matkins: The Commercial Mortgage Lender's Perspective of Ti... Feb 01, 2002
The Commercial Mortgage Lender's Perspective Of Title Insurance. Lenders can use title insurance to manage title risks and quantify costs in a variety of creative ways
Adams Kleemeier: The Final Affidavit and Waiver of Lien - Contractors Be... Jan 01, 2002
The Lien Waiver is submitted, the loan closes, the lender advances funds, the title insurer issues a title insurance policy, the owner gets his home or building, the general contractor gets his money, and everyone goes home happy. Of course, that is why lenders require title insurance
Allen & Overy: Hong Kong Real Estate Jan 01, 2002
Ltd. on the property aspects of the proposed listing of China Insurance International Holdings Company Ltd. in Hong Kong. u advisingonthesaleofapropertyportfolioinvolving approximately 40 properties on behalf of the creditors of Guangdong Enterprises u advisingCableandWirelessplconthepropertyaspects of its disposal of Hongkong Telecom to PCCW u advising City Telecom Hong Kong Ltd. on the property aspects of its proposed listing u advisingHongKongExchangesandClearingLimited on the property
Hinshaw & Culbertson: Lawyers' Professional Liability Update Dec 01, 2001
Shaw Pittman: Insurance Coverage Issues Surrounding Anthrax and Other... Nov 27, 2001
PublicationPublication: Mealy's Litigation Report: Insurance Title: Insurance Coverage Issues Surrounding Anthrax and Other Bio-Attacks and Hoaxes Citation: November 27, 2001 Author(s): Walter Andrews, Lon Berk, Edward Grass Reprint Permission: Copyright 2001 Walter J. Andrews, Lon A. Berk and Edward J. Grass If you are having trouble opening the PDF attachment, you will need to download the latest version of Acrobat Reader
Buchalter Nemer: Loan Modification Beware of Priority Loss on Real Estat... Oct 01, 2001
...pndef="title";//DEFAULT PAGE NAME hbx. Assuming that a lender obtained title insurance in the first place, every real property secured lender who is thinking of modifying a loan should, circumstances otherwise permitting, seek to obtain a CLTA form 110
Faegre & Benson: Comparing Leases in the U.S. and U.K. Jul 01, 2001
Investigation of Title In the U.K., lawyers investigate title to satisfy themselves that their clients will obtain good title. This is different than the U.S. approach, where in most leases the tenant relies upon a covenant of quiet enjoyment without any title investigation
Shaw Pittman: Insurance Coverage Disputes--Faculty Presentations May 16, 2001
Shaw Pittman: Insurance in the New Economy Cybertorts and Cyber Cover... May 16, 2001
Presentation Title:Insurance in the New Economy Cybertorts and Cyber Coverages Date:05/16/2001 Presenter:Lon Berk Audience/Event:DRI Insurance Coverage and Claims Institute Location: Chicago, IL, United States Presentation: To view the. pdf file, you can download a free copy of Adobe Acrobat at http://www
Saul Ewing: New CRA Activities May 01, 2001
Underwriting Credit-Related Insurance After the GLB Act. An operating subsidiary may continue underwriting credit-related insurance products in connection with loans made by the bank and affiliated and unaffiliated financial institution lenders under the "authorized product" exception of section 302 of the Gramm-Leach-Bliley Act
Frost Brown Todd: Complex Business Litigation Newsletter May 01, 2001
Jeffer Mangels Butler: Foreign Soil Investments Mar 01, 2001
Through its title subsidiaries (Fidelity National Title, Chicago Title, Ticor Title, Security Union Title and Alamo Title), FNF issues approximately 35% of all title insurance policies in the U.S. In December 2000, FNF announced the formation of the Global Solutions division to offer U.S. based title insurance on foreign real estate. As U.S. based investors have gone bargain hunting or looking for strategic hotel and commercial real estate investment opportunities outside our borders, many of
Jeffer Mangels Butler: OSHA Requires All Employers To Provide An Ergonomic Wor... Mar 01, 2001
Baker & McKenzie: Insurance Law Newsflash Jan 01, 2001
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Garvey Schubert Barer: The Service Gives Taxpayers a Green Light on Certain Re... Jan 01, 2001
New Terminology Revenue Procedure 2000-37 introduces three new terms to the world of tax deferred exchanges, namely: · Qualified Exchange Accommodation Arrangement ("QEAA"); · Accommodation Titleholder ("AT"); & · Qualified Indicia of Ownership ("QIO"). Qualified Exchange Accommodation Arrangement In order to satisfy the safe harbor, the taxpayer must enter into a QEAA. A QEAA exists if certain requirements are met: QIO. QIO of the parked property must be with the AT. QIO means legal title to
Adams Kleemeier: Buying And Selling Real Estate: Dec 01, 2000
The preferred method of performing a reverse exchange is to have a third party (the "accommodator") acquire and hold title to the replacement property until the sale of the relinquished property is completed. When the closing on the old complex occurs, Seller does a simultaneous exchange with the accommodator and takes title to the new complex
Buchalter Nemer: Special Leasing Needs of Internet and New Media Compani... Dec 01, 2000
...pndef="title";//DEFAULT PAGE NAME hbx. Landlords generally refuse to provide this right and suggest that the tenant could collect on its business interruption insurance in these instances
Winstead: Reviving Mortgage Loan Originations: Stream-lining Sugg... Dec 01, 2000
The cast typically includes: a national title company, a local title company agency or closing agent, a property inspection firm, a surveyor, borrower's insurance agent (and perhaps lender's insurance consultant), one or more tenants of the property, an environmental inspection firm, an appraiser, lender's lawyer, and finally, the borrower and its lawyer (let's not forget the borrower). The following are some suggestions based upon Winstead's experience after closing over 1,000 CMBS loans in
Goodwin Procter: Financial Services Alert Nov 21, 2000
Federal Banking Agencies Issue Insurance Sales Proposal FRB Issues Framework for FHC Supervision SEC Adopts Regulation FD Concerning Selective Disclosure Court of Appeals for the 11th Circuit Holds Bank Holding Company Immune From Suit Under AntiMoney Laundering Statute for Release of Customer's Records to Grand Jury. FRB Adopts Amendments to Credit and Charge Card Solicitation and Application Disclosures OCC Authorizes Financial Subsidiary to Engage in Title Insurance Agency Activities FDIC
Wyatt: Gramm-Leach-Bliley Act Jul 01, 2000
As a general rule, financial subsidiaries of national banks will not be permitted to engage as principal in underwriting insurance or issuing annuities, real estate development or investment, merchant banking (for at least 5 years) or insurance company portfolio activities in which financial holding companies may engage, and, as a general rule, title insurance may only be sold through subsidiaries (absent specific state authority). This list includes, among other categories, insurance and
Goodwin Procter: Financial Services Alert Jun 13, 2000
Mutual Life Insurance Company, a registered investment adviser ("MassMutual") (publ. OCC Evaluates Federal Preemption of West Virginia Insurance Statute The OCC issued a Notice and request for comment (No
Weil: Will Non-competes Be Enforced in the Internet Age? Apr 01, 2000
In the first of the cases reviewed here, Ticor Title Insurance Co. v. Cohen, 173 F.3d 63 (2d Cir. Cohen was a highly paid title insurance salesman, who had exclusive responsibility for a number of key Ticor accounts
Shearman & Sterling: Globalization of Real Estate Law Practice* Mar 01, 2000
To be sure, public debt has not entirely displaced private debt (of a $1 trillion U.S. commercial lending market, banks represent perhaps $400 billion, life insurance companies $200 billion, pension funds $200 billion with the balance being CMBS). As evidence of this, title insurance companies in the U.S. are entering into mega-mergers and are offering their services in Europe, and real estate brokers and appraisers are combining with one another and with financial institutions at great speed
Drinker Biddle & Reath: The Gramm-Leach-Bliley Act An Overview Of Select Provis... Jan 31, 2000
For example, insurance companies, banks and securities firms can now exist under a single holding company structure. g., insurance) should be regulated by the regulator charged by law to regulate that activity (e
Shaw Pittman: The Impact of the Gramm-Leach-Bliley Act of 1999 on U.S... Dec 15, 1999
PublicationPublication: Shaw Pittman Title: The Impact of the Gramm-Leach-Bliley Act of 1999 on U.S. Banks Citation: 12/15/99 Author(s): , Shaw Pittman's Financial Institutions Group This memorandum examines the impact of the Gramm-Leach-Bliley Act of 1999 (the Act ) on U.S. financial institutions and their affiliates. The effective date for Title I, including the new financial activities permitted under the Act and the changes in bank holding company supervision, is March 11, 2000, and the
Shaw Pittman: The Impact of the Gramm-Leach-Bliley Act of 1999 on For... Dec 02, 1999
PublicationPublication: Shaw Pittman Title: The Impact of the Gramm-Leach-Bliley Act of 1999 on Foreign Banks Citation: 12/02/99 Author(s): , Shaw Pittman's Financial Institutions Group This memorandum examines the impact of the Gramm-Leach-Bliley Act of 1999 (the Act ) on foreign banks (and their affiliates) that have U.S. branches, agencies or bank subsidiaries. The effective date for Title I, including the new financial activities permitted under the Act and the changes in bank holding
Faegre & Benson: Congress Passes Gramm-Leach-Bliley Act Nov 01, 1999
King & Spalding: Client Alert: The Gramm-Leach-Bliley Financial Services... Oct 29, 1999
1 Congress and the White House have now reached an agreement, and the resulting legislation will break down the barriers that have separated the banking, securities and insurance industries since the 1930s and placed U.S. companies in those industries at a competitive disadvantage with their international counterparts. Within the framework of the Bank Holding Company Act, the bill will allow for the affiliation of a wider range of financial services providers, including commercial banks,
Paul Weiss: Examining Portfolio Financings' Legal Business Iss... Oct 12, 1999
For purposes of the release provisions (as well as for title insurance, mortgage tax and other purposes), the borrower and the lender must agree on an allocation of the aggregate loan amount among the constituent properties. In addition to compensating the lender for the loss of diversification, the release premium -- to the extent there are net sales or refinancing proceeds to pay it -- may reflect the lender's view that, as between the lender and the borrower, the lender should be entitled to
Drinker Biddle & Reath: Title Reinsurer Not Liable for Negligent Title Search Aug 01, 1999
A commentary article reprinted from the August 26, 1999 issue of Mealey's Litigation Report: Reinsurance On July 29, 1999, the United States District Court for the District of New Jersey issued an opinion in RTC Mortgage Trust 1994 N-1 v. Fidelity National Title Insurance Company, et al., No. 5874, ruling on several issues which will have an impact on title insurers and reinsurers in the future. 1 First, the court held that a primary title policy and a reinsurance policy did not provide coverage
FROF: NJ Court Finds in Favor of Title Company on Fidelity Bo... Jun 01, 1999
FROF Articles - NJ Court Finds in Favor of Title Company on Fidelity Bond Claim function displayAttorney(aID) { win = window. open("/inside/attorney.asp?IC=y aID,'_blank','menu=yes,height=410,width=630,scrollbars=yes,toolbar=yes,location=no,directories=no,status=no,resizable=yes'); } NJ Court Finds in Favor of Title Company on Fidelity Bond Claim by R. James Kravitz Fox Rothschild recently obtained a verdict in the Superior Court of New Jersey on behalf of our client, Conestoga Title Insurance
Faegre & Benson: Do You Need Environmental Insurance? Jun 01, 1999
Faegre n LLP: Do You Need Environmental Insurance. More Articles Forward this article to a colleague Register for legal updates via email More Information on Environmental More Information on Construction Do You Need Environmental Insurance
FROF: Buying a Business? Dont Let the Sellers Liabilities Com... Jun 01, 1999
Akin Gump: Construction Lending in the New Millennium: What A Lend... Jun 01, 1999
It requires cooperation among a variety of people, such as the borrower, the construction lender, their respective counsel, the permanent lender, the contractor, their representatives, architects and engineers, appraisers, title companies and others. documents and title insurance), this series of three articles will, however, attempt to set forth the most basic considerations, all of which apply whether the construction loan is being made directly by the construction lender or the lender is
Paul Weiss: Second Circuit Review: Non-Compete Covenants; Personal ... May 26, 1999
Co. v. Cohen,1 the Second Circuit expanded the circumstances, under New York law, in which a covenant not to compete will be enforced, determining in this case, for example, that the services of a title insurance salesman could be considered "unique," thereby supporting enforcement of the covenant not to compete. Enforcing Covenants In Ticor Title Ins
Epstein Becker & Green: Conducting an Antitrust Audit: In Preparation for a Mer... May 10, 1999
CVS Corporation (Final Order August 13, 1997): CVS agreed to settle allegations that its acquisition of Revco would substantially reduce competition for the retail sale of pharmacy services to health insurance companies and other third-party payers in Virginia and in the Binghampton, New York metropolitan area. Lawyers Title Corporation (Proposed Consent Agreement Accepted for Public Comment February 23, 1998): Lawyers Title agreed to divest title plants in 11 areas to settle antitrust
Faegre & Benson: Adding Value to Real Estate Management Apr 01, 1999
Your streamlined process should include not only the standardized forms described above, but also procedures for ordering title work, surveys, and environmental reports, as well as coordination of tax-deferred exchanges. These advantages apply in dealing with legal counsel, title insurers, brokers, environmental consultants, and other vendors whose services you require regularly
FROF: Buying a Hotel? Dont Let the Sellers Liabilities Come B... Mar 31, 1999
Clifford Chance: Securing Revolving Loans With New York Real Estat... Feb 04, 1999
In New York, recording tax generally must be paid on "every mortgage or deed of trust which imposes a lien on or affects the title to real property," and no mortgage may be recorded until such tax has been paid. If title insurance is purchased, a so-called "last dollar endorsement" may be obtained for either of these structures so long as the mortgage includes a statement to the effect that prepayments under the revolver must be applied last to the amount of the loan secured by the mortgage
FROF: Landmark Decision in Recording Real Estate Documents Dec 14, 1998
Shaw Pittman: Insurance Coverage Issues Under CGL Contracts for Year ... Oct 08, 1998
Presentation Title:Insurance Coverage Issues Under CGL Contracts for Year 2000 Losses Date:10/08/1998 Presenter:Walter Andrews Audience/Event:Mealy's Year 2000: Exposures and Coverage Conference 1998 Location: Arlington, VA, United States Presentation
Jenkens & Gilchrist: Community Bankers Update Fall 98 Oct 01, 1998
With the home mortgage business booming, bankers take note that title insurance business is. Also be aware that historical reasons for not owning a title insurance agency and not keeping that business have recently faded away
Jeffer Mangels Butler: The Art of the Deal?in Mexico Oct 01, 1998
First, and most surprisingly to most U.S. investors, is the additional cost of a Notario - an attorney who checks the public records to assure that title is properly vested in the seller. The cost of title insurance in Mexico is significantly higher than in the United States and has often resulted in additional six-figure transactional costs for U.S. investors when buying a hotel or resort in Mexico
Goodwin Procter: Financial Services Alert Jun 09, 1998
...g., insurance underwriting, securities underwriting and dealing, and real estate investment and development activities). The FRB thus declared that H.R.10 protects community banks, which are unlikely to establish such subsidiaries, from having to share in any losses to the deposit insurance funds that may result from large national banks engaging in these activities under the OCC's recently adopted operating subsidiary rules
Bell: How Title Insurance Differs From All Other Forms Mar 01, 1998
In its most elementary form, title insurance, like most other forms of insurance, provides indemnification against certain named perils plus the insured's costs of defense. Title insurance, however, differs from other lines of insurance in several important respects
Jeffer Mangels Butler: Mexico: Opportunities and Pitfalls in a Unique Hotel Ma... Oct 01, 1997
Due diligence and title issues will present some interesting challenges. What law will govern your claim on title insurance if you have to make one
Morgan Lewis: Local Tax Matters - Tax Exempt Institutions; Local Busi... Jun 18, 1997
Industrial Valley Title Ins. 1995) -- Philadelphia Unot preempted as to title insurance companies
Pillsbury Winthrop: Special Bulletin: Federal And State Superfund Statutes ... Jan 01, 1997
FEDERAL HR 3610 On September 30, 1996 President Clinton signed the 1996 Omnibus Appropriations Bill (HR 3610), which included the Asset Conservation, Lender Liability, and Deposit Insurance Protection Act of 1996. The 12-month period begins when the lender acquires marketable title if it has moved diligently to do so after the expiration of any redemption or other waiting period, or upon foreclosure if it did not
Sedgwick: Surety and Construction Law Briefings Jun-99 May 31, 1995
The public works contract must include these provisions under California Administrative Code, Title 8, section 16430. International Fidelity Insurance Company ("Surety") issued a Miller Act payment bond for ABT Service Corporation ("ABT"), the prime contractor on a federal government project at the Idaho National Engineering Laboratory
Foley Lardner: Supreme Court Further Restricts Insurance Industry Anti... Jul 01, 1993
Title Insurance Law Update Volume 1
TitleInsurance Law Update. A periodic publication on the current legal issues facing the title insurance and real estate industries Volume 1, Issue 2 Spring 1999
Title Insurance Law Update Volume 1
TitleInsurance Law Update. A periodic publication on the current legal issues facing the title insurance and real estate industries Volume 1, Issue 1 W i n t e r 1 9 9 9
Title Insurance Law Update Volume 2
TitleInsurance Law Update. A periodic publication on the current legal issues facing the title insurance and real estate industries Volume 2, Issue 1 Winter/Spring 2001
Title Insurance Law Update Volume 1
TitleInsurance Law Update. A periodic publication on the current legal issues facing the title insurance and real estate industries Volume 1, Issue 3 Summer 1999
July 2003
October 26
We also provide to you a link to an excellent summary of the Act, prepared by Elisabeth Zajic, VP and Counsel for First American Title Co. If anyone wants a more exhaustive review on the Act, please click "Reply" and advise us. RESPA Enforcement: Maryland and Virginia have noted an increase in enforcement action for RESPA violations, specifically penalizing for payments by title companies for referrals
June 7
In an important case underscoring the nature and scope of title insurance, Jackson & Campbell filed an Amicus Brief in the U.S. Court of Appeals for the Fifth District on behalf of American Land Title Association. At issue was whether the title insurance policy covered only the real estate, or extended to cover the lender's security interest in the boat under construction
Mortgage Foreclosure: Drafting the Documents
OUTLINE OF PAPER Scope of Article Texas Property Code-Chapter 51 Bankruptcy Code §362(a) Statutes of Limitations Default Maturity/Acceleration of Debt Type of Note Contractual Requirements Common Law Notice Requirements Statutory Requirements Private Mortgage Insurance Requirements Initial Foreclosure Considerations Home Equity Loans Enforcement Alternatives Title Review Appraisal Bid Price Environmental Concerns Status of the Debtor Trustees/Substitute Trustees Notice of Sale Contractual
"Co-op Transfers by Estates
Transfer Agents Further, most co-op transfers are handled by transfer agents who are typically not attorneys and are not equipped to handle the complexities of the title issues involved. Attorneys for sellers and purchasers frequently place unwarranted reliance on these transfer agents, expecting them to raise objections in the manner of title examiners when there are estates or other entities in the chain of title or inconsistencies between the description of the sellers in the contract of sale
August 26
Details at Click here to view the Official D.C. BBL Site (that does not offer many "Details" RESPA can Hammer a Title Company or Mortgage Company even for a $10 Recording Fee: U.S. Court of Appeals (Seventh Circuit)remanded a case for trial wherein a mortgage company had charged $10 on their payoff statement. The seller claimed that, because the title company did all the work, the $10 was unearned
May 23
Title companies are urged to collect the proper amounts and to expedite the filing of their recordings, to avoid "eating" the increased surcharge. $200,000 settlement reached in NY case against attorneys accused of steering business to a title company that they owned violating RESPA, holding that the profit distribution from the title company constituted "referral fees" proscribed by RESPA (even if unintentional)
Fall 2003; Volume 4
You should also evaluate whether there is adequate insurance in place to cover claims such as these or claims for personal injury or property damage. TITLE Your due diligence period should be used to examine legal title to the property that you are acquiring
December 1
The time is RIPE for ordering title and preparing to file tax sale foreclosure actions. While we will not be filing the lawsuits cannot be filed until the end of January, title should be ordered and reviewed now to be poised and prepared
Survey Basics*
In addition, the term "title commitment" will include title reports and other documents that evidence the current state of title. They may learn that the title company has waived the survey as a requirement for issuing extended coverage title insurance
Spring/Summer 2002; Volume 3
TitleInsurance Law Update. A periodic publication on the current legal issues facing the title insurance and real estate industries Volume 3, Issue 1 Spring/Summer 2002
Catcher in the Court
Hotel/Motel Legal Update Volume 1
A buyer can protect himself against claims concerning the real estate by purchasing title insurance. However, title insurance does not protect the owner against claims arising from the operation of the seller's business on the hotel property prior to the sale
For more information
In the more than 17 years Ms. Price has been in the paralegal profession, she has worked in such diverse areas as legal and medical malpractice litigation, family law, product liability, employment law, insurance law, and personal injury. In addition to her position at Arent Fox, Ms. Rynes teaches a course titled: "Legal Technology and Litigation Management" to legal assistant students at George Washington University
Insurance & Financial Services - November 22
INSURANCE CIAL SERVICES TERRORISM RISK INSURANCE ACT OF 2002. After a long and difficult process, Congress has approved the Terrorism Risk Insurance Act of 2002 ("Act")
Legal
These statutes had generally prohibited banks from selling insurance products. This outline will review the status of this issue in various states, and describe efforts underwayin several of the anti-affiliation states to technically appearto allow insurance sales but otherwise impede banks' progress in this area
Community Bankers Update Volume 11
Whether online customers submit data voluntarily, by completing a survey or an application form, for example, or involuntarily, such as when their actions are tracked by monitoring software (which may also store information about customers' visits in "cookies" on their computers), they are entitled to know how such data may be used. Exceptions to the above restrictions are permitted for reasons such as processing a transaction requested by the consumer; disclosure authorized by the consumer;
Legal
FINANCIAL INSTITUTIONS INSURANCE ASSOCIATION Fall Conference Chicago, Illinois November 8, 1999. These statutes had generally prohibited banks from selling insurance products
Summaries of recently published appellate decisions
: July 2004
Third, in most derivative actions the plaintiff is not entitled to discovery to support their derivative claim. The importance of the Beam decision does not lend itself to a glib summary
: Insurance Industry Antitrust Newsletter
...pndef="title";//DEFAULT PAGE NAME hbx. Florida Supreme Court Reaffirms Permissibility of Agent Rebates On October 19, the Florida Supreme Court, in Chicago Title Insurance Co. v. Butler, reaffirmed that agent rebating of premiums in Florida is lawful and extended that principle to the title insurance industry
: Insurance Industry Antitrust Newsletter
...pndef="title";//DEFAULT PAGE NAME hbx. Florida Supreme Court Reaffirms Permissibility of Agent Rebates On October 19, the Florida Supreme Court, in Chicago Title Insurance Co. v. Butler, reaffirmed that agent rebating of premiums in Florida is lawful and extended that principle to the title insurance industry
: Insurance Industry Antitrust Newsletter
...pndef="title";//DEFAULT PAGE NAME hbx. Instead, the court concluded that insurance companies had "demanded the formation of networks to manage claims and more efficiently arrange for the services required by policyholders," and that "nothing indicates that the networks operate as anything more than preferred providers." Holding that plaintiff's conspiracy count could not proceed "based solely upon the existence of contracts between insurance companies and auto glass repair providers," the court
: Insurance Industry Antitrust Newsletter
...pndef="title";//DEFAULT PAGE NAME hbx. Instead, the court concluded that insurance companies had "demanded the formation of networks to manage claims and more efficiently arrange for the services required by policyholders," and that "nothing indicates that the networks operate as anything more than preferred providers." Holding that plaintiff's conspiracy count could not proceed "based solely upon the existence of contracts between insurance companies and auto glass repair providers," the court
: Insurance Industry Antitrust Newsletter
...pndef="title";//DEFAULT PAGE NAME hbx. In the action, entitled HealthAmerica Pennsylvania Inc. v. Susquehanna Health System, the plaintiffs, HealthAmerica (an HMO), Coventry Health and Life Insurance Company (a fee-for-service insurer) and Coventry Healthcare Management Corporation (a third party administrator) contend that the formation of Susquehanna Health System in 1994 (through a merger of two local hospital chains) was anticompetitive
: Insurance Industry Antitrust Newsletter
...pndef="title";//DEFAULT PAGE NAME hbx. In the action, entitled HealthAmerica Pennsylvania Inc. v. Susquehanna Health System, the plaintiffs, HealthAmerica (an HMO), Coventry Health and Life Insurance Company (a fee-for-service insurer) and Coventry Healthcare Management Corporation (a third party administrator) contend that the formation of Susquehanna Health System in 1994 (through a merger of two local hospital chains) was anticompetitive
Akin Gump: Automatic Stay of Bankruptcy May Be Annulled Under Cert...
As a practical matter, in many instances the foreclosure sale purchaser will not be able to obtain title insurance absent an order annulling the automatic stay or dismissing the bankruptcy case where the sale is completed postpetition. As a consequence, title insurance issues are further reason to seek annulment of the automatic stay
Akin Gump: What A Lender Needs To Know Before Making A Constructio...
...borrower and, perhaps, the title insurer. The construction lender can best protect itself by either making the payment directly to the subcontractors and materialmen or through the title company or in such fashion as will satisfy the requirements of the bonding company, if any
Arnold Porter: New HUD Policy Statement Concerning Mortgage Fees Under...
Given that lenders do not always know all the actual settlement costs, such as the title insurance premium to be paid or the actual prepaid interest that will be charged, until the settlement date is set, this may be an unworkable standard. For that reason, it will be critical for all mortgage lenders to undertake a careful analysis of any proposed rule issued
Ballard Spahr: Increase in the New Jersey Realty Transfer Fee: Effecti...
This illogical result was met with severe criticism by the home building community, attorneys, and the title insurance industry, prompting much discussion on delaying the implementation of the increased fees. Because title closers did not have actual notice of the increased fees until July 1, they most probably did not collect the correct fee from the seller and would now either have to pay the increase themselves or try to obtain the increased fees from the seller before the deed could be
Ballard Spahr: Recently Enacted Stimulus Package Establishes Keystone ...
The purchaser or assignee may claim the credits in the taxable year of purchase or assignment against any of the following taxes: Personal Income Tax; Corporate Net Income Tax; Capital Stock/Franchise Tax; Bank Shares Tax; Title Insurance and Trust Companies Tax; Insurance Premiums Tax; or Mutual Thrift Institutions Tax. The amount of the credits used may not exceed 75% of the purchaser’s or assignee’s tax liability for the taxable year
Blank Rome: Attorney Responsible For Recorder's Error
Blank Rome: Mortgage And Lien May Survive Improper Indexing
If a purchaser does not discover an earlier mortgage because it has been misindexed, does the purchaser take title free and clear of that mortgage. It then took title from the sale
Blank Rome: Bankrupt Landlord's Sale Terminates Leases
The purchasers then transferred their interests in the property to a new entity that assumed the rights of the purchaser under the sale order and took title to the property. The bankruptcy court disagreed and held that since Precision's lease was an "interest" under the sale order, the purchaser had obtained title to the property free and clear of the lease under 363(f)
Blank Rome: USA Patriot Act Affects Real Estate Closings
Title III of the Act, also known as the International Monetary Laundering Abatement and Financial Anti-Terrorism Act of 2001, made a number of amendments to the Anti-Money-Laundering provisions of the Bank Secrecy Act, which amendments are intended to make it easier to prevent, detect and prosecute international money laundering and financing terrorism. Based on the public comments received from affected groups, including lenders, title companies and lawyers, a cynic might conclude that this
Briggs & Morgan: Second Mortgage Financing - An Additional Lender's...
...pndef="title";//DEFAULT PAGE NAME hbx. Consequently, whenever a lender is making a loan secured by a mortgage on real estate, the lender should obtain a mortgagee s title insurance commitment which shows all existing contracts and mortgages on the property, and the lender or its attorney should review those contracts and mortgages
Buchalter Nemer: California Courts Create Super-Priority Lien for Constr...
...pndef="title";//DEFAULT PAGE NAME hbx. Although the opinion doesn t address the issue of title insurance, in all likelihood, the title insurance companies will take the position that there is no title insurance coverage since it was an act of the insured (failure to comply with statutory requirements in ensuring payment to site improvers) which resulted in the loss of priority
Fox Rothschild: New York Federal Court Grants Equitable Mortgage to Tit...
JULY 25, 2002 TITLE INSURANCE DEFENSE GROUP. E-INSIGHTS ON TITLE INSURANCE
Gardner Carton: Coming To America (Part 2)
A triple net lease requires the tenant to take on most of the obligations of ownership, such as maintenance and repair of the entire building, and direct payment of all ownership costs, such as maintenance costs, real estate taxes and insurance. As in England, where a landlord usually expressly excludes any obligation to pay a tenant compensation for those improvements to the premises which are not removed at the end of the lease term, commercial leases in the United States routinely state that
Gardner Carton: Coming to America (Part 1)
More typical, however, is a "net lease" which provides for a monthly base rent payment and then a separate monthly payment for the tenant's proportionate share of the landlord's expenses for operating expenses, such as maintenance, real estate taxes and insurance. A triple net lease requires the tenant to take on most of the obligations of ownership, such as maintenance and repair of the entire building, and direct payment of all ownership costs, such as maintenance costs, real estate taxes and
Gardner Carton: Coming To America (Part 3)
In both countries base rent is determined by the rentable area of the premises leased by the tenant (measured, of course, in square feet in the U.S., not square meters***), and a proportionate share of operating expenses, taxes, and insurance is passed through to the tenant. As a result, parties to commercial leases in the United States pay greater attention to negotiating such provisions as the tenant's obligation for carrying various types of insurance, waiver of claims against the landlord
Goodwin Procter: The Terrorism Risk Insurance Act of 2002: Coverage in a...
The Terrorism Risk Insurance Act of 2002: Coverage in a Post-9/11 World. Introduction Before September 11, 2001, terrorism coverage was routinely included in commercial insurance policies
Isaacson: June 2000 Issue
In the earlier opinion, the Colorado Supreme Court reversed a judgment adverse to the plaintiffs on due process grounds, directing the trial court to determine whether notice adequate to satisfy the requirements of due process had been provided in a 1960 Torrens action quieting title to the ranch. Waldman v. Old Republic National Title Insurance Company, Colorado Court of Appeals, March 30, 2000 -- Title Insurance -- Arbitration -- Waiver
Isaacson: Annual Review
TITLES/TITLE INSURANCE/QUIET TITLE 17. -- August 5, 1999 Jimerson v. First American Title Insurance Company 989 P.2d 258 (Colo
Morris: Synopsis of Title Insurance and Escrow Litigation in Ge...
MMM - Published Articles PUBLISHED ARTICLES PUBLISHED WORKS MMM NEWS RELEASES MMM EVENT CALENDAR PRESS INQUIRIES Articles: (1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 ) Synopsis of Title Insurance and Escrow Litigation in Georgia By Lewis E. Hassett Morris, Manning n, LLP leh@mmmlaw. com Like any other insurer, a title insurer may be subject to claims in contract or claims in tort
Morris: Synopsis of Title Insurance and Escrow Litigation in Ge...
MMM - Published Articles PUBLISHED ARTICLES PUBLISHED WORKS MMM NEWS RELEASES MMM EVENT CALENDAR PRESS INQUIRIES Articles: (1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 ) Synopsis of Title Insurance and Escrow Litigation in Georgia By Lewis E. Hassett Morris, Manning n, LLP leh@mmmlaw. com Like any other insurer, a title insurer may be subject to claims in contract or claims in tort
Morris: Synopsis of Title Insurance and Escrow Litigation in Ge...
MMM - Published Articles PUBLISHED ARTICLES PUBLISHED WORKS MMM NEWS RELEASES MMM EVENT CALENDAR PRESS INQUIRIES Articles: (1 2 3 4 5 6 7 8 9 ) Synopsis of Title Insurance and Escrow Litigation in Georgia By Lewis E. Hassett Morris, Manning n, LLP leh@mmmlaw. com Like any other insurer, a title insurer may be subject to claims in contract or claims in tort
Poyner and Spruill: Due Diligence Request List
Provide list and description (including, if applicable, a description of any insurance protection) of all legal, administrative or arbitral proceedings, pending or threatened, involving the Company or any of its properties or assets. Provide list and description (including, if applicable, a description of any insurance protection) of all legal, administrative or arbitral proceedings, pending or threatened, against any director or officers of the Company which may give rise to a claim against the
Poyner and Spruill: Due Diligence Request List
Provide list and description (including, if applicable, a description of any insurance protection) of all legal, administrative or arbitral proceedings, pending or threatened, involving the Company or any of its properties or assets. Provide list and description (including, if applicable, a description of any insurance protection) of all legal, administrative or arbitral proceedings, pending or threatened, against any director or officers of the Company which may give rise to a claim against the
Severson & Werson: Top Ten Disclosure Issues for Lenders
In addition to issues discussed later in this article, a closing checklist can reveal some of the following requirements: a. Title Insurance Requirements: The closing checklist will identify the lender s requirements for the issuance of title insurance. The checklist will sometimes identify a particular title company or a title company selected by lender
Severson & Werson: Modern Financing of 1031 Exchanges
If transactional costs, such as additional transfer taxes, title insurance and legal fees, can be held down, and particularly if the lender will waive its standard assumption fee, this approach seems attractive. Some underwriters will not allow a non-SPE to hold title to the real property securing the loan for even a nanosecond, arguing that even a moment of ownership by the exchangor/principal opens the door to other potential creditors in a bankruptcy
Shearman & Sterling: The Gramm-Leach-Bliley Act *
The greatest changes allow the affiliation of banks with securities firms and insurance companies, expand the nature of activities permissible to bank affiliates to those that are "financial in nature," authorize merchant bank investments in non-financial businesses, and reduce the degree of Federal Reserve supervision over the entire organization, relying in part on functional supervision. tain companies that control banks may engage in (i) securities activities in brokerdealer subsidiaries
Ulmer & Berne: Attorney Profile
0 million in construction loans for projects in Kent and Youngstown, favorably settled a $21 million real estate tax complaint involving a Cuyahoga County hospital, favorably settled a CERCLA action for a national refiner of petroleum products, acted as buyer's counsel in the acquisition of a title insurance agency, concluded negotiations for a cellular tower lease on municipal property, acted as buyer's counsel in the acquisition of land and the construction of new corporate offices in Summit
Ulmer & Berne: Acquisition of Auburn Ice Palace Brings New Life to a C...
From the time the Buyer and the Bank reached their agreement to the time the Sheriff delivered the deed there were numerous other issues that had to be addressed to make the acquisition successful: acquisition financing and title insurance had to be obtained; arrangements had to be made with the Bank and the Receiver for adjustments and prorations of operating income and expenses, including prepaid ice rentals, utilities, employee costs and expenses; certain improvements had to be constructed to
Vandeventer Black: Lien Waivers: Pitfalls For The General Contractor
One key purpose, though, is to give limited peace of mind to the construction lender, buyer's lender, or real estate title company involved with either or both, who want to insure monies paid to the contractor flow to those who have furnished labor or materials, or both, for the project and that no liens will be filed against the property during or after construction. Third, the contractor has set himself up for both breach of contract and fraud claims, not just by the owner, but also by any
White and Williams: Expanded Coverage Title Insurance For Homeowners
...pndef="title";//DEFAULT PAGE NAME hbx. Traditional Owner s Title Insurance Policy Subject to the exceptions, exclusions, terms and conditions of the title policy, a traditional owner s title insurance policy ( Traditional Policy ) insures the owner against loss or damage suffered because of any one or more of the following: 1
Wiley Rein & Fielding: Title Insurance Company?s Failure To Disclose Injunctio...
WRF - Articles - Title Insurance Company’s Failure To Disclose Injunction Against It Is Material Misrepresentation Allowing Erer To Rescind Policy if (document. src'); } } Search GO Title Insurance Company’s Failure To Disclose Injunction Against It Is Material Misrepresentation Allowing Erer To Rescind PolicyThe Executive Summary, July/August 2003 The U.S. Court of Appeals for the Seventh Circuit, applying Illinois law, has held that an insurer that issued an E&O policy to a title insurance and
Wiley Rein & Fielding: Other Decisions of Note
The court explained that even if the application contained false misrepresentations, the evidence reflected that (i) the application was first sent to the insurer’s subsidiary in Florida and (ii) even if it had been sent to Connecticut, it was sent by the insurance broker, not the CEO. Bankruptcy Removal Provision Trumps Securities Act Anti-Removal Provision The United States Court of Appeals for the Second Circuit has held that state court securities actions that would be non-removable under
Wiley Rein & Fielding: No Imputation Under Prior Knowledge Provision
The insured was an attorney and issuing agent for a title insurance company. In an application for malpractice insurance, the attorney represented that he was not aware of any facts or circumstances that might give rise to a claim under the proposed insurance
Title Insurance Law Update Volume 1
TitleInsurance Law Update. A periodic publication on the current legal issues facing the title insurance and real estate industries Volume 1, Issue 2 Spring 1999
Title Insurance Law Update Volume 1
TitleInsurance Law Update. A periodic publication on the current legal issues facing the title insurance and real estate industries Volume 1, Issue 1 W i n t e r 1 9 9 9
Title Insurance Law Update Volume 2
TitleInsurance Law Update. A periodic publication on the current legal issues facing the title insurance and real estate industries Volume 2, Issue 1 Winter/Spring 2001
Title Insurance Law Update Volume 1
TitleInsurance Law Update. A periodic publication on the current legal issues facing the title insurance and real estate industries Volume 1, Issue 3 Summer 1999
"Co-op Transfers by Estates
Transfer Agents Further, most co-op transfers are handled by transfer agents who are typically not attorneys and are not equipped to handle the complexities of the title issues involved. Attorneys for sellers and purchasers frequently place unwarranted reliance on these transfer agents, expecting them to raise objections in the manner of title examiners when there are estates or other entities in the chain of title or inconsistencies between the description of the sellers in the contract of sale
Spring/Summer 2002; Volume 3
TitleInsurance Law Update. A periodic publication on the current legal issues facing the title insurance and real estate industries Volume 3, Issue 1 Spring/Summer 2002
Catcher in the Court
Hotel/Motel Legal Update Volume 1
A buyer can protect himself against claims concerning the real estate by purchasing title insurance. However, title insurance does not protect the owner against claims arising from the operation of the seller's business on the hotel property prior to the sale
Legal
These statutes had generally prohibited banks from selling insurance products. This outline will review the status of this issue in various states, and describe efforts underwayin several of the anti-affiliation states to technically appearto allow insurance sales but otherwise impede banks' progress in this area
Banking and Financial Transactions Alert - October 26
We also have extensive experience in the area of insurance insolvency. It has even been suggested that this may affect a title insurance policy involving the use of a
Community Bankers Update Volume 11
Whether online customers submit data voluntarily, by completing a survey or an application form, for example, or involuntarily, such as when their actions are tracked by monitoring software (which may also store information about customers' visits in "cookies" on their computers), they are entitled to know how such data may be used. Exceptions to the above restrictions are permitted for reasons such as processing a transaction requested by the consumer; disclosure authorized by the consumer;
Legal
FINANCIAL INSTITUTIONS INSURANCE ASSOCIATION Fall Conference Chicago, Illinois November 8, 1999. These statutes had generally prohibited banks from selling insurance products
Business Briefs Volume 1
If a customer or supplier list can be reconstructed by competitors simply by picking up an industry directory or a telephone book, it may not be entitled M. If marketing plans and strategies, for example, are widely disseminated to employees who do not need to know such market information, your marketing plans may not be entitled to protection as a trade secret
In-Sites
A third bill, introduced by Assemblyman Weingarten, does not have a specific title and will be referred to as the Weingarten Bill. In April, Russell B. Bershad presented the Title Insurance Update at the Real Property Symposium sponsored by the Real Property, Probate Law Section of the New Jersey State Bar Association
Environmental
Jeryl L. Olson Changes To Title V Compliance Certification Rules On March 1, 2001, the U.S. EPA published its proposed rule to amend the Title V Air Permit Program Compliance Assurance Monitoring (CAM) Requirements under the Clear Air Act. The March 1st rulemaking, summarized what must be included in a facility's compliance certification for Title V permits as follows: "The compliance certification includes three main elements. The first is identification of all the permit terms and conditions
"The Brownfields Amendments: New Opportunities
17 Despite the BFPP exemption, the federal government is entitled to a lien on the property, or alternative assurance of payment,ifithasexpendedunrecoveredfunds cleaning up the property,and the cleanup results in a windfall increase in the property's value. Supra,note 1 atTitle II,§ 223 (to be codified at 42 U.S.C.§ 9601(35)(A))
Legal
FINANCIAL INSTITUTIONS INSURANCE ASSOCIATION Scottsdale, Arizona April 19, 1999. These statutes had generally prohibited banks from selling insurance products
Tying
See, e.g., Lee v. Life Insurance Co. of North America, 23 F.3d 14, 16 at n. 6 (1st Cir. (CCH) ¶ 68,735) (no per se tie where home purchasers were free to choose their settlement attorney and title insurance company); Murphy v. Business Cards Tomorrow, Inc., 854 F.2d 1202 (9th Cir
: Insurance Industry Antitrust Newsletter
...pndef="title";//DEFAULT PAGE NAME hbx. Florida Supreme Court Reaffirms Permissibility of Agent Rebates On October 19, the Florida Supreme Court, in Chicago Title Insurance Co. v. Butler, reaffirmed that agent rebating of premiums in Florida is lawful and extended that principle to the title insurance industry
: Insurance Industry Antitrust Newsletter
...pndef="title";//DEFAULT PAGE NAME hbx. Florida Supreme Court Reaffirms Permissibility of Agent Rebates On October 19, the Florida Supreme Court, in Chicago Title Insurance Co. v. Butler, reaffirmed that agent rebating of premiums in Florida is lawful and extended that principle to the title insurance industry
: Insurance Industry Antitrust Newsletter
...pndef="title";//DEFAULT PAGE NAME hbx. Instead, the court concluded that insurance companies had "demanded the formation of networks to manage claims and more efficiently arrange for the services required by policyholders," and that "nothing indicates that the networks operate as anything more than preferred providers." Holding that plaintiff's conspiracy count could not proceed "based solely upon the existence of contracts between insurance companies and auto glass repair providers," the court
: Insurance Industry Antitrust Newsletter
...pndef="title";//DEFAULT PAGE NAME hbx. Instead, the court concluded that insurance companies had "demanded the formation of networks to manage claims and more efficiently arrange for the services required by policyholders," and that "nothing indicates that the networks operate as anything more than preferred providers." Holding that plaintiff's conspiracy count could not proceed "based solely upon the existence of contracts between insurance companies and auto glass repair providers," the court
: Insurance Industry Antitrust Newsletter
...pndef="title";//DEFAULT PAGE NAME hbx. In the action, entitled HealthAmerica Pennsylvania Inc. v. Susquehanna Health System, the plaintiffs, HealthAmerica (an HMO), Coventry Health and Life Insurance Company (a fee-for-service insurer) and Coventry Healthcare Management Corporation (a third party administrator) contend that the formation of Susquehanna Health System in 1994 (through a merger of two local hospital chains) was anticompetitive
Akin Gump: Automatic Stay of Bankruptcy May Be Annulled Under Cert...
As a practical matter, in many instances the foreclosure sale purchaser will not be able to obtain title insurance absent an order annulling the automatic stay or dismissing the bankruptcy case where the sale is completed postpetition. As a consequence, title insurance issues are further reason to seek annulment of the automatic stay
Akin Gump: What A Lender Needs To Know Before Making A Constructio...
...borrower and, perhaps, the title insurer. The construction lender can best protect itself by either making the payment directly to the subcontractors and materialmen or through the title company or in such fashion as will satisfy the requirements of the bonding company, if any
Arnold Porter: New HUD Policy Statement Concerning Mortgage Fees Under...
Given that lenders do not always know all the actual settlement costs, such as the title insurance premium to be paid or the actual prepaid interest that will be charged, until the settlement date is set, this may be an unworkable standard. For that reason, it will be critical for all mortgage lenders to undertake a careful analysis of any proposed rule issued
Blank Rome: Attorney Responsible For Recorder's Error
Blank Rome: Mortgage And Lien May Survive Improper Indexing
If a purchaser does not discover an earlier mortgage because it has been misindexed, does the purchaser take title free and clear of that mortgage. It then took title from the sale
Blank Rome: Bankrupt Landlord's Sale Terminates Leases
The purchasers then transferred their interests in the property to a new entity that assumed the rights of the purchaser under the sale order and took title to the property. The bankruptcy court disagreed and held that since Precision's lease was an "interest" under the sale order, the purchaser had obtained title to the property free and clear of the lease under 363(f)
Blank Rome: USA Patriot Act Affects Real Estate Closings
Title III of the Act, also known as the International Monetary Laundering Abatement and Financial Anti-Terrorism Act of 2001, made a number of amendments to the Anti-Money-Laundering provisions of the Bank Secrecy Act, which amendments are intended to make it easier to prevent, detect and prosecute international money laundering and financing terrorism. Based on the public comments received from affected groups, including lenders, title companies and lawyers, a cynic might conclude that this
Buchalter Nemer: California Courts Create Super-Priority Lien for Constr...
...pndef="title";//DEFAULT PAGE NAME hbx. Although the opinion doesn t address the issue of title insurance, in all likelihood, the title insurance companies will take the position that there is no title insurance coverage since it was an act of the insured (failure to comply with statutory requirements in ensuring payment to site improvers) which resulted in the loss of priority
Carlton Fields: The ABC's of Title Claims in Florida
Carlton Fields - Publication Detail Publication Detail 03/12/2003 The ABC's of Title Insurance in Florida, 2002The ABC's of Title Insurance in FloridaMark A. BrownRelated Practices Real Property Litigation Practice Copyright ©2004 by Carlton Fields
Fox Rothschild: August 2004 July 2004 July 2003 Title Insurance July 20...
Fox Rothschild: New York Federal Court Grants Equitable Mortgage to Tit...
JULY 25, 2002 TITLE INSURANCE DEFENSE GROUP. E-INSIGHTS ON TITLE INSURANCE
Gardner Carton: Coming To America (Part 2)
A triple net lease requires the tenant to take on most of the obligations of ownership, such as maintenance and repair of the entire building, and direct payment of all ownership costs, such as maintenance costs, real estate taxes and insurance. As in England, where a landlord usually expressly excludes any obligation to pay a tenant compensation for those improvements to the premises which are not removed at the end of the lease term, commercial leases in the United States routinely state that
Gardner Carton: Coming to America (Part 1)
More typical, however, is a "net lease" which provides for a monthly base rent payment and then a separate monthly payment for the tenant's proportionate share of the landlord's expenses for operating expenses, such as maintenance, real estate taxes and insurance. A triple net lease requires the tenant to take on most of the obligations of ownership, such as maintenance and repair of the entire building, and direct payment of all ownership costs, such as maintenance costs, real estate taxes and
Gardner Carton: Coming To America (Part 3)
In both countries base rent is determined by the rentable area of the premises leased by the tenant (measured, of course, in square feet in the U.S., not square meters***), and a proportionate share of operating expenses, taxes, and insurance is passed through to the tenant. As a result, parties to commercial leases in the United States pay greater attention to negotiating such provisions as the tenant's obligation for carrying various types of insurance, waiver of claims against the landlord
Morris: Synopsis of Title Insurance and Escrow Litigation in Ge...
MMM - Published Articles PUBLISHED ARTICLES PUBLISHED WORKS MMM NEWS RELEASES MMM EVENT CALENDAR PRESS INQUIRIES Articles: (1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 ) Synopsis of Title Insurance and Escrow Litigation in Georgia By Lewis E. Hassett Morris, Manning n, LLP leh@mmmlaw. com Like any other insurer, a title insurer may be subject to claims in contract or claims in tort
Morris: Synopsis of Title Insurance and Escrow Litigation in Ge...
MMM - Published Articles PUBLISHED ARTICLES PUBLISHED WORKS MMM NEWS RELEASES MMM EVENT CALENDAR PRESS INQUIRIES Articles: (1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 ) Synopsis of Title Insurance and Escrow Litigation in Georgia By Lewis E. Hassett Morris, Manning n, LLP leh@mmmlaw. com Like any other insurer, a title insurer may be subject to claims in contract or claims in tort
Morris: Synopsis of Title Insurance and Escrow Litigation in Ge...
MMM - Published Articles PUBLISHED ARTICLES PUBLISHED WORKS MMM NEWS RELEASES MMM EVENT CALENDAR PRESS INQUIRIES Articles: (1 2 3 4 5 6 7 8 9 ) Synopsis of Title Insurance and Escrow Litigation in Georgia By Lewis E. Hassett Morris, Manning n, LLP leh@mmmlaw. com Like any other insurer, a title insurer may be subject to claims in contract or claims in tort
Shearman & Sterling: The Gramm-Leach-Bliley Act *
The greatest changes allow the affiliation of banks with securities firms and insurance companies, expand the nature of activities permissible to bank affiliates to those that are "financial in nature," authorize merchant bank investments in non-financial businesses, and reduce the degree of Federal Reserve supervision over the entire organization, relying in part on functional supervision. tain companies that control banks may engage in (i) securities activities in brokerdealer subsidiaries
Stroock: An Overview of California's Unfair Competition Law
61 Insurance Coverage For Section 17200 Actions. " The California Supreme Court has determined to use the latter, and most recent cases have complied with that decision. See Stop Youth Addiction, Inc. v. Lucky Stores, Inc., 17 Cal. 4th 553, 558 (1998) (stating that Section 17200 does not presently bear a legislatively imposed title and noting the numerous names that have been used by the California courts). Interestingly, the use of the term "competition" is somewhat misleading. Section 17200 is
Vandeventer Black: Lien Waivers: Pitfalls For The General Contractor
One key purpose, though, is to give limited peace of mind to the construction lender, buyer's lender, or real estate title company involved with either or both, who want to insure monies paid to the contractor flow to those who have furnished labor or materials, or both, for the project and that no liens will be filed against the property during or after construction. Third, the contractor has set himself up for both breach of contract and fraud claims, not just by the owner, but also by any
Weil: Class Certification And Opt-Out Rights
Citing Brown v. Ticor Title Insurance Co.,25 the court stated [w]e have held that statutory treble damages can be substantial and, thus, render the action a hybrid suit, in which minimum due process requires the right to opt out. Adams v. Robertson, 520 U.S. 83 (1997); Ticor Title Ins
Williams Mullen: Land Use Lines Vol. 3 No. 1
Allows a taxpayer entitled to a land preservation tax credit to transfer such credit to any other taxpayer. Section members represent a wide variety of clients, including national retailers, national and regional landlords and tenants, title insurance companies, private developers, lending institutions, bank trust departments, pension funds, and non-profit institutions
Williams Mullen: Land Use Lines Vol. 3 No. 1
Allows a taxpayer entitled to a land preservation tax credit to transfer such credit to any other taxpayer. Section members represent a wide variety of clients, including national retailers, national and regional landlords and tenants, title insurance companies, private developers, lending institutions, bank trust departments, pension funds, and non-profit institutions
Title Insurance Law Update Volume 1
TitleInsurance Law Update. A periodic publication on the current legal issues facing the title insurance and real estate industries Volume 1, Issue 2 Spring 1999
Title Insurance Law Update Volume 1
TitleInsurance Law Update. A periodic publication on the current legal issues facing the title insurance and real estate industries Volume 1, Issue 1 W i n t e r 1 9 9 9
Title Insurance Law Update Volume 2
TitleInsurance Law Update. A periodic publication on the current legal issues facing the title insurance and real estate industries Volume 2, Issue 1 Winter/Spring 2001
Title Insurance Law Update Volume 1
TitleInsurance Law Update. A periodic publication on the current legal issues facing the title insurance and real estate industries Volume 1, Issue 3 Summer 1999
"Co-op Transfers by Estates
Transfer Agents Further, most co-op transfers are handled by transfer agents who are typically not attorneys and are not equipped to handle the complexities of the title issues involved. Attorneys for sellers and purchasers frequently place unwarranted reliance on these transfer agents, expecting them to raise objections in the manner of title examiners when there are estates or other entities in the chain of title or inconsistencies between the description of the sellers in the contract of sale
Spring/Summer 2002; Volume 3
TitleInsurance Law Update. A periodic publication on the current legal issues facing the title insurance and real estate industries Volume 3, Issue 1 Spring/Summer 2002
Catcher in the Court
Hotel/Motel Legal Update Volume 1
A buyer can protect himself against claims concerning the real estate by purchasing title insurance. However, title insurance does not protect the owner against claims arising from the operation of the seller's business on the hotel property prior to the sale
Legal
These statutes had generally prohibited banks from selling insurance products. This outline will review the status of this issue in various states, and describe efforts underwayin several of the anti-affiliation states to technically appearto allow insurance sales but otherwise impede banks' progress in this area
Banking and Financial Transactions Alert - October 26
We also have extensive experience in the area of insurance insolvency. It has even been suggested that this may affect a title insurance policy involving the use of a
Community Bankers Update Volume 11
Whether online customers submit data voluntarily, by completing a survey or an application form, for example, or involuntarily, such as when their actions are tracked by monitoring software (which may also store information about customers' visits in "cookies" on their computers), they are entitled to know how such data may be used. Exceptions to the above restrictions are permitted for reasons such as processing a transaction requested by the consumer; disclosure authorized by the consumer;
Legal
FINANCIAL INSTITUTIONS INSURANCE ASSOCIATION Fall Conference Chicago, Illinois November 8, 1999. These statutes had generally prohibited banks from selling insurance products
Business Briefs Volume 1
If a customer or supplier list can be reconstructed by competitors simply by picking up an industry directory or a telephone book, it may not be entitled M. If marketing plans and strategies, for example, are widely disseminated to employees who do not need to know such market information, your marketing plans may not be entitled to protection as a trade secret
In-Sites
A third bill, introduced by Assemblyman Weingarten, does not have a specific title and will be referred to as the Weingarten Bill. In April, Russell B. Bershad presented the Title Insurance Update at the Real Property Symposium sponsored by the Real Property, Probate Law Section of the New Jersey State Bar Association
Environmental
Jeryl L. Olson Changes To Title V Compliance Certification Rules On March 1, 2001, the U.S. EPA published its proposed rule to amend the Title V Air Permit Program Compliance Assurance Monitoring (CAM) Requirements under the Clear Air Act. The March 1st rulemaking, summarized what must be included in a facility's compliance certification for Title V permits as follows: "The compliance certification includes three main elements. The first is identification of all the permit terms and conditions
"The Brownfields Amendments: New Opportunities
17 Despite the BFPP exemption, the federal government is entitled to a lien on the property, or alternative assurance of payment,ifithasexpendedunrecoveredfunds cleaning up the property,and the cleanup results in a windfall increase in the property's value. Supra,note 1 atTitle II,§ 223 (to be codified at 42 U.S.C.§ 9601(35)(A))
Legal
FINANCIAL INSTITUTIONS INSURANCE ASSOCIATION Scottsdale, Arizona April 19, 1999. These statutes had generally prohibited banks from selling insurance products
Tying
: Insurance Industry Antitrust Newsletter
...pndef="title";//DEFAULT PAGE NAME hbx. Florida Supreme Court Reaffirms Permissibility of Agent Rebates On October 19, the Florida Supreme Court, in Chicago Title Insurance Co. v. Butler, reaffirmed that agent rebating of premiums in Florida is lawful and extended that principle to the title insurance industry
: Insurance Industry Antitrust Newsletter
...pndef="title";//DEFAULT PAGE NAME hbx. Florida Supreme Court Reaffirms Permissibility of Agent Rebates On October 19, the Florida Supreme Court, in Chicago Title Insurance Co. v. Butler, reaffirmed that agent rebating of premiums in Florida is lawful and extended that principle to the title insurance industry
: Insurance Industry Antitrust Newsletter
...pndef="title";//DEFAULT PAGE NAME hbx. Instead, the court concluded that insurance companies had "demanded the formation of networks to manage claims and more efficiently arrange for the services required by policyholders," and that "nothing indicates that the networks operate as anything more than preferred providers." Holding that plaintiff's conspiracy count could not proceed "based solely upon the existence of contracts between insurance companies and auto glass repair providers," the court
: Insurance Industry Antitrust Newsletter
...pndef="title";//DEFAULT PAGE NAME hbx. Instead, the court concluded that insurance companies had "demanded the formation of networks to manage claims and more efficiently arrange for the services required by policyholders," and that "nothing indicates that the networks operate as anything more than preferred providers." Holding that plaintiff's conspiracy count could not proceed "based solely upon the existence of contracts between insurance companies and auto glass repair providers," the court
: Insurance Industry Antitrust Newsletter
...pndef="title";//DEFAULT PAGE NAME hbx. In the action, entitled HealthAmerica Pennsylvania Inc. v. Susquehanna Health System, the plaintiffs, HealthAmerica (an HMO), Coventry Health and Life Insurance Company (a fee-for-service insurer) and Coventry Healthcare Management Corporation (a third party administrator) contend that the formation of Susquehanna Health System in 1994 (through a merger of two local hospital chains) was anticompetitive
: Insurance Industry Antitrust Newsletter
...pndef="title";//DEFAULT PAGE NAME hbx. In the action, entitled HealthAmerica Pennsylvania Inc. v. Susquehanna Health System, the plaintiffs, HealthAmerica (an HMO), Coventry Health and Life Insurance Company (a fee-for-service insurer) and Coventry Healthcare Management Corporation (a third party administrator) contend that the formation of Susquehanna Health System in 1994 (through a merger of two local hospital chains) was anticompetitive
Akin Gump: Automatic Stay of Bankruptcy May Be Annulled Under Cert...
As a practical matter, in many instances the foreclosure sale purchaser will not be able to obtain title insurance absent an order annulling the automatic stay or dismissing the bankruptcy case where the sale is completed postpetition. As a consequence, title insurance issues are further reason to seek annulment of the automatic stay
Akin Gump: What A Lender Needs To Know Before Making A Constructio...
...borrower and, perhaps, the title insurer. The construction lender can best protect itself by either making the payment directly to the subcontractors and materialmen or through the title company or in such fashion as will satisfy the requirements of the bonding company, if any
Arnold Porter: New HUD Policy Statement Concerning Mortgage Fees Under...
Given that lenders do not always know all the actual settlement costs, such as the title insurance premium to be paid or the actual prepaid interest that will be charged, until the settlement date is set, this may be an unworkable standard. For that reason, it will be critical for all mortgage lenders to undertake a careful analysis of any proposed rule issued
Ballard Spahr: Recently Enacted Stimulus Package Establishes Keystone ...
The purchaser or assignee may claim the credits in the taxable year of purchase or assignment against any of the following taxes: Personal Income Tax; Corporate Net Income Tax; Capital Stock/Franchise Tax; Bank Shares Tax; Title Insurance and Trust Companies Tax; Insurance Premiums Tax; or Mutual Thrift Institutions Tax. The amount of the credits used may not exceed 75% of the purchaser’s or assignee’s tax liability for the taxable year
Blank Rome: Attorney Responsible For Recorder's Error
Blank Rome: Mortgage And Lien May Survive Improper Indexing
If a purchaser does not discover an earlier mortgage because it has been misindexed, does the purchaser take title free and clear of that mortgage. It then took title from the sale
Blank Rome: Bankrupt Landlord's Sale Terminates Leases
The purchasers then transferred their interests in the property to a new entity that assumed the rights of the purchaser under the sale order and took title to the property. The bankruptcy court disagreed and held that since Precision's lease was an "interest" under the sale order, the purchaser had obtained title to the property free and clear of the lease under 363(f)
Blank Rome: USA Patriot Act Affects Real Estate Closings
Title III of the Act, also known as the International Monetary Laundering Abatement and Financial Anti-Terrorism Act of 2001, made a number of amendments to the Anti-Money-Laundering provisions of the Bank Secrecy Act, which amendments are intended to make it easier to prevent, detect and prosecute international money laundering and financing terrorism. Based on the public comments received from affected groups, including lenders, title companies and lawyers, a cynic might conclude that this
Buchalter Nemer: California Courts Create Super-Priority Lien for Constr...
...pndef="title";//DEFAULT PAGE NAME hbx. ctdef="full";//DEFAULT CONTENT CATEGORY //OPTIONAL PAGE VARIABLES //ACTION SETTINGS hbx
Carlton Fields: The ABC's of Title Claims in Florida
Carlton Fields - Publication Detail Publication Detail 03/12/2003 The ABC's of Title Insurance in Florida, 2002The ABC's of Title Insurance in FloridaMark A. BrownRelated Practices Real Property Litigation Practice Copyright ©2004 by Carlton Fields
Fox Rothschild: August 2004 July 2004 July 2003 Title Insurance July 20...
Fox Rothschild: New York Federal Court Grants Equitable Mortgage to Tit...
JULY 25, 2002 TITLE INSURANCE DEFENSE GROUP. E-INSIGHTS ON TITLE INSURANCE
Fox Rothschild: PA Court Upholds Liability Limitation in Title Abstract
In order to issue a title insurance commitment, title agents often rely on an abstract of title prepared by a third party search company. The information contained in that abstract of title is important because it provides the basis for the exceptions to coverage listed in the title insurance commitment issued by the agent
Gardner Carton: Coming To America (Part 2)
A triple net lease requires the tenant to take on most of the obligations of ownership, such as maintenance and repair of the entire building, and direct payment of all ownership costs, such as maintenance costs, real estate taxes and insurance. As in England, where a landlord usually expressly excludes any obligation to pay a tenant compensation for those improvements to the premises which are not removed at the end of the lease term, commercial leases in the United States routinely state that
Gardner Carton: Coming to America (Part 1)
More typical, however, is a "net lease" which provides for a monthly base rent payment and then a separate monthly payment for the tenant's proportionate share of the landlord's expenses for operating expenses, such as maintenance, real estate taxes and insurance. A triple net lease requires the tenant to take on most of the obligations of ownership, such as maintenance and repair of the entire building, and direct payment of all ownership costs, such as maintenance costs, real estate taxes and
Gardner Carton: Coming To America (Part 3)
In both countries base rent is determined by the rentable area of the premises leased by the tenant (measured, of course, in square feet in the U.S., not square meters***), and a proportionate share of operating expenses, taxes, and insurance is passed through to the tenant. As a result, parties to commercial leases in the United States pay greater attention to negotiating such provisions as the tenant's obligation for carrying various types of insurance, waiver of claims against the landlord
Morris: Synopsis of Title Insurance and Escrow Litigation in Ge...
...htmlSynopsis of Title Insurance and Escrow Litigation in Georgia By Lewis E. Hassett Morris, Manning n, LLP leh@mmmlaw. com Like any other insurer, a title insurer may be subject to claims in contract or claims in tort
Morris: Synopsis of Title Insurance and Escrow Litigation in Ge...
...htmlSynopsis of Title Insurance and Escrow Litigation in Georgia By Lewis E. Hassett Morris, Manning n, LLP leh@mmmlaw. com Like any other insurer, a title insurer may be subject to claims in contract or claims in tort
Morris: Synopsis of Title Insurance and Escrow Litigation in Ge...
...htmlSynopsis of Title Insurance and Escrow Litigation in Georgia By Lewis E. Hassett Morris, Manning n, LLP leh@mmmlaw. com Like any other insurer, a title insurer may be subject to claims in contract or claims in tort
Shearman & Sterling: The Gramm-Leach-Bliley Act *
The greatest changes allow the affiliation of banks with securities firms and insurance companies, expand the nature of activities permissible to bank affiliates to those that are "financial in nature," authorize merchant bank investments in non-financial businesses, and reduce the degree of Federal Reserve supervision over the entire organization, relying in part on functional supervision. tain companies that control banks may engage in (i) securities activities in brokerdealer subsidiaries
Stroock: An Overview of California's Unfair Competition Law
61 Insurance Coverage For Section 17200 Actions. " The California Supreme Court has determined to use the latter, and most recent cases have complied with that decision. See Stop Youth Addiction, Inc. v. Lucky Stores, Inc., 17 Cal. 4th 553, 558 (1998) (stating that Section 17200 does not presently bear a legislatively imposed title and noting the numerous names that have been used by the California courts). Interestingly, the use of the term "competition" is somewhat misleading. Section 17200 is
Vandeventer Black: Lien Waivers: Pitfalls For The General Contractor
One key purpose, though, is to give limited peace of mind to the construction lender, buyer's lender, or real estate title company involved with either or both, who want to insure monies paid to the contractor flow to those who have furnished labor or materials, or both, for the project and that no liens will be filed against the property during or after construction. Third, the contractor has set himself up for both breach of contract and fraud claims, not just by the owner, but also by any
Weil: Class Certification And Opt-Out Rights
Citing Brown v. Ticor Title Insurance Co.,25 the court stated [w]e have held that statutory treble damages can be substantial and, thus, render the action a hybrid suit, in which minimum due process requires the right to opt out. Adams v. Robertson, 520 U.S. 83 (1997); Ticor Title Ins
Williams Mullen: Land Use Lines Vol. 3 No. 1
Allows a taxpayer entitled to a land preservation tax credit to transfer such credit to any other taxpayer. Section members represent a wide variety of clients, including national retailers, national and regional landlords and tenants, title insurance companies, private developers, lending institutions, bank trust departments, pension funds, and non-profit institutions
Williams Mullen: Land Use Lines Vol. 3 No. 1
Allows a taxpayer entitled to a land preservation tax credit to transfer such credit to any other taxpayer. Section members represent a wide variety of clients, including national retailers, national and regional landlords and tenants, title insurance companies, private developers, lending institutions, bank trust departments, pension funds, and non-profit institutions
Title Insurance Law Update Volume 1
TitleInsurance Law Update. A periodic publication on the current legal issues facing the title insurance and real estate industries Volume 1, Issue 2 Spring 1999
Title Insurance Law Update Volume 1
TitleInsurance Law Update. A periodic publication on the current legal issues facing the title insurance and real estate industries Volume 1, Issue 1 W i n t e r 1 9 9 9
Title Insurance Law Update Volume 2
TitleInsurance Law Update. A periodic publication on the current legal issues facing the title insurance and real estate industries Volume 2, Issue 1 Winter/Spring 2001
Title Insurance Law Update Volume 1
TitleInsurance Law Update. A periodic publication on the current legal issues facing the title insurance and real estate industries Volume 1, Issue 3 Summer 1999
"Co-op Transfers by Estates
Transfer Agents Further, most co-op transfers are handled by transfer agents who are typically not attorneys and are not equipped to handle the complexities of the title issues involved. Attorneys for sellers and purchasers frequently place unwarranted reliance on these transfer agents, expecting them to raise objections in the manner of title examiners when there are estates or other entities in the chain of title or inconsistencies between the description of the sellers in the contract of sale
Spring/Summer 2002; Volume 3
TitleInsurance Law Update. A periodic publication on the current legal issues facing the title insurance and real estate industries Volume 3, Issue 1 Spring/Summer 2002
Catcher in the Court
Hotel/Motel Legal Update Volume 1
A buyer can protect himself against claims concerning the real estate by purchasing title insurance. However, title insurance does not protect the owner against claims arising fr
