The Affordable Housing Recording Fee: What You Should Know.

January 5, 2018

You may have heard about the new Affordable Housing Recording Fee. Here is what you need to know:

Q1: What is the new Affordable Housing Recording Fee?
A: The new fee is an additional charge passed by the legislature and signed by the governor to fund Affordable Housing. The fee is assessed at the time documents are recorded into the public record with the county recorder’s office.

Q2: Does the new Recording Fee replace previous charges for recording?
A: No, the new Recording Fee is charged in addition to previous recording charges collected by county recorders. read more

More Insight on the Secured Tax Bill for 2018

December 29, 2017

What are Secured taxes?
Secured taxes are real estate taxes. These taxes are a lien on a real property.

What period does the secured tax bill cover and how does tax prorating occur if I buy or sell the parcel during the period?
The tax bill covers the period from July 1 to June 30 of each year.  The property tax bill for property purchased after January 1 may still reflect the previous owner’s name and assessed property value; however, it is still a valid property tax bill for the tax year.  Any proration of property taxes between a seller and buyer during this period is usually handled through the escrow process.  You should check with your real estate agent or escrow officer to determine whether property taxes were paid.  It is the responsibility of the new owner to make sure the property tax installments are paid timely.   read more

Refinancing Your Home? Learn Why Your Lender Requires Title Insurance

July 6, 2017

Refinancing your property has its benefits. In fact, it’s often a great way to take advantage of lower interest rates. However, it’s important to consider all the elements involved. When refinancing, your lender will very likely require that you invest in title insurance. Learn more about why title insurance is required for refinancing your property.

Refinancing Requires a New Loan.
When refinancing your property, the process treats the transaction as a new loan. With a new loan, your previous insurance does not carry over. Instead a new title insurance policy is required. read more

Stay Informed and Learn More About What’s Required to Insure Your Living Trust

June 27, 2017

A living trust can provide property benefits to the trustor and their beneficiaries. It has become a popular way of holding title to real property. When it comes to insuring a living trust, there are certain requirements that the trust must meet. Find out more about living trust and what will be needed to insure them.

Creating a Trust.
A trust is essentially an agreement. The trustor agrees to give the trustee access to designated assets of the trustor, including allowing the trustee to hold a property’s title, to benefit the trustor’s beneficiaries. The benefit of a living trust allows for the holding of title to real property. read more

What is a Statement of Information and How Does it Relate to the Title Process?

June 21, 2017

Whether you’re buying, selling, or refinancing a property, there are many individual components and documents involved in the process. In almost all cases, a Statement of Information is requested to help verify information so that title to your property may be cleared. Here, we will talk a little bit more about a Statement of Information so that you’re better able to familiarize yourself with the title process.

What is a Statement of Information?
A Statement of Information is a request for information about you and in some instances about a spouse or partner to help our team conduct thorough, accurate research so that title can be cleared.

Why is a Statement of Information Needed?

There are several pieces of information that are needed for a Statement of Information. These types of information include things such as employment information, past addresses, and other identifying information. It’s important to fill out the information in its entirety and sign the document. read more