What’s in a Preliminary Title Report?

December 12, 2017

When you’ve been in the real estate and title industry for many years, a Preliminary Title Report is something that might almost be second nature. However, for those new to the title process or for those of you who are looking to expand your vocabulary or perhaps you simply might like a refresher on some less-commonly used vocabulary, read on.

Below you will find a list, compiled by Fidelity, of commonly used vocabulary pertaining to the contents of a Preliminary Title Report. For continued questions, please contact your Fidelity National Title Orange County Sales Executive. read more

Understanding a Living Trust

December 6, 2017

Estate planners often recommend “Living Trusts” as a viable option when contemplating the manner in which to hold title to real property. When a property is held in a Living Trust, title companies have particular requirements to facilitate the transaction. While not comprehensive, the following are answers to many commonly asked questions. If you have questions that are not answered below, your Fidelity National Title Sales Executive may be able to assist you, however, one may wish to seek legal counsel.

Who are the parties to a Trust?
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Joint Tenants vs. Community Property

November 29, 2017

Holding title as joint tenants or as community property involves a multitude of issues to be dealt with. Here are two distinguishing features between taking title as joint tenants or community property, that most people are concerned with.

When title is taken as joint tenants and one spouse dies, the surviving spouse automatically receives the property. This is called a right of survivorship. (Although the property does not go through any probate proceedings, the surviving spouse must still file an affidavit of death of joint tenant to remove the deceased’s name from the deed.) read more

What is a Statement of Information?

November 18, 2017

What’s in a name?

When a title company seeks to uncover matters affecting title to real property, the answer is, “Quite a bit”. Statements of Information provide title companies with the information they need to distinguish the buyers and sellers of real property from others with similar names. After identifying the true buyers and sellers, title companies may disregard the judgments, liens or other matters on the public records under similar names. To help you better understand this sensitive subject, the California Land Title Association has answered some of the questions about Statements of Information. read more

IPX1031: Comprehensive Tax Reform Bill Expected This Week

October 31, 2017

Report from IPX1031 President John Wunderlich Just Returning from DC
Comprehensive Tax Reform Bill Expected This Week

FY2018 Budget Resolution passes, paves way for major Republican effort

Note: Since discussions regarding tax reform began, IPX1031 President John Wunderlich and members of the 1031 trade association (FEA) have been involved in over 300 meetings on Capitol Hill to educate Congress about the many economic benefits of 1031 exchanges. Last week John and the association were in DC. Here is John’s update. read more