Risk Assumption - Lines 30-38

  • 09/18/2013 6:56 PM
    Message # 1392768
    Questions about "Risk Assumption" - Lines 30-38
  • 11/21/2013 9:38 PM
    Reply # 1443815 on 1392768
    Line 37(a) asks for the number of Line 32 that were not sale/purchase closing transactions.  Does this include leasehold policies that were insuring the "purchaser" of the leasehold?
  • 11/21/2013 9:41 PM
    Reply # 1443819 on 1392768
    Line 37(a) asks for the number of transactions that were not sale/purchase transactions.  How do we characterize a sale transaction in which we are insuring only the lender's interest?  i.e. The purchaser declines owners coverages or has acquired it from another source simultaneously (both pretty rare).
  • 11/21/2013 9:43 PM
    Reply # 1443820 on 1392768

    Line 37(b) asks for the number of Leasehold Transactions included in 37(a).  Is this intended to reflect only policies insuring a lender to a leasehold, or policies in which we insure the person leasing a property?  If the latter, should the cross-reference be to Line 32, which would include insuring the "purchase" of a leasehold interest?

  • 12/11/2013 2:54 PM
    Reply # 1456303 on 1443821
    Anonymous wrote:

    Why are there two Lines listed 37(b)?

    Answer:    This will be corrected in electronic version.

  • 12/12/2013 12:09 PM
    Reply # 1456932 on 1392768

    Line items 33a and 35. My title company runs title searches, examines title, and prepares Case Summaries for a foreclosure law firm. Some of that work is for FHA and VA foreclosures where the law firm prepares a title policy. We do not prepare the title policy. For 33a, do I report the cost of the title search involved on those FHA/VA files? For line item 35, do I report title search fees for non-policy related files. Currently, per their client's requirements, we have to charge the law firm one total amount for each Case Summary. the search fee is not separate. How do I report this? 

Contact us
© 2011-2017 Florida Land Title Association

Member management site supported by Gulf2Bay Tech St. Petersburg, FL

Powered by Wild Apricot Membership Software