Identify the key sections of the commitment for title insurance.
Preparation for the real estate closing requires familiarity with title insurance commitment, policy and endorsement forms. Eliminating roadblocks to closing requires transaction counsel to provide the title insurer with timely documentation, an explanation of client expectations and a perspective on the transaction that may not be apparent from the public land records alone. Insight in how to work with the title agency and work as a team in order to maximize coverage is important in advancing client objectives.
More Program Information
Why Lorman?
Over 34 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Agenda
Key Sections of the Title Commitment
Insurer's Obligations Under a Title Commitment
- What Is the Commitment?
- Parties Covered
- Reliance
- Commitment Requirements
- Premium
- Termination
- How the Commitment Is Modified
Reviewing Schedule a of the Title Commitment
- Ensuring Names, Dates and Other Important Elements Match
- Have Any Title Issues Arisen Since the Commitment Date?
- Ensuring the Legal Description Is Complete and Accurate
- Appurtenant Easements, Parking Spaces and Amenities: Insurable?
Establishing Identity, Capacity and Authority
- Individuals
- Entities
- Pitfalls of Pending Litigation, Foreclosure and Bankruptcy
- Unsatisfied Mortgages
- Homeowner's Association Liens
- Mechanic's Liens
- Judgment Liens
- Federal Tax Liens
Schedule B-II of the Title Commitment
- Standard Exceptions Explained
- Special Exceptions: Liens, Easements and Other Considerations
Negotiating Removal of, or Affirmative Coverage for, Exceptions
- Standard Exceptions
- Covenants, Conditions and Restrictions
- Easements
- Rights of Re-Entry, Reversions and Reverters
- Options to Purchase, Rights of First Refusal
- Life Estates and Remainders
- Leases
- Article 9 Security Interests
- Mineral Rights
Obtaining Title Insurance Endorsements
- Why Endorsements?
- How to Obtain Endorsements That Fit the Situation
- Underwriting Criteria: What Is the Title Insurer Looking for?
- Standard Alta Endorsements
- Commercial Alta Endorsements
Closing Protection Letters (CPL's)
- Purpose of the CPL
- ALTA CPL Forms
- CPL Limitations on Availability
- Conditions and Exclusions in the CPL
- Approved Attorneys and CPL's
More Program Information
Why Lorman?
Over 34 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Credits
OnDemand Course
This course was last revised on April 26, 2019.
Call 1-866-352-9540 for further credit information.
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
More Program Information
Why Lorman?
Over 34 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Faculty
Duane H. Wunsch
Fidelity National Title Group, Inc.
- Vice president and state counsel for Fidelity National Title Group, Inc.’s Wisconsin office
- 30 years of experience as in-house underwriting and claims counsel
- Frequent lecturer to both attorney and nonattorney customer groups
- Regularly conducts training sessions for title and escrow staff
- J.D. degree, Emory University; B.A. degree, University of Wisconsin-Madison
- Can be contacted at 262-796-3852 or [email protected]
More Program Information
Why Lorman?
Over 34 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
All of your training, right here at Lorman.
Pay once and get a full year of unlimited training in any format, any time!
- OnDemand Courses
- Live Webinars
- MP3 Downloads
- Course Manuals
- Executive Reports
- White Papers and Articles
Additional benefits include:
- State Specific Credit Tracker
- All-Access Pass Course Concierge
Questions? Call 877-296-2169 to speak with a real person.
Access to all training products for one year
$699/year
Unlimited Lorman Training
With the All-Access Pass there is no guessing what you will need for your yearly training budget. $699 will cover all of your training needs for an entire year!
Easy Registrations
Once you purchase your All-Access Pass you will never be any further than one-click away from attending any Lorman training course.
Invest in Yourself
You haven't gotten to where you are professionally by luck alone; it's taken a lot of hard work and training. Invest in yourself with the All-Access Pass.
