Fund News and Alerts

The Fund will be closed on Monday, May 29 in observance of Memorial Day.

  05/25/2023

An Easy Way to Promote Your Practice & Value to Real Estate Professionals

We know you are essential to the closing process, and to help real estate professionals and consumers gain the same understanding, we have launched a statewide “Value of a Real Estate Attorney” awareness campaign. The campaign will be promoted on the below channels. 

• Florida Realtor Legal News
• Title Report Ads
• Paid Search ads - internet online searches
• Social Media
• Outdoor Billboards - Orlando, Miami, Tampa
• Realtor Association Magazines - Orlando, Miami, Tampa

05/25/2023

ALERT! Legislative Update re Foreign Interests in Real Property - En Español

La legislatura estuvo ocupado este año, y aunque hay varias leyes que afectan bienes raíces que estamos analizando para ustedes, aquí explicamos una nueva ley en particular:

• SB 264, Capítulo No. 2023-33, efectivo a partir del 1 de Julio de 2023. Ver, https://laws.flrules.org/2023/33

Entre otras cosas, esta ley establece algunos requisitos distintos sobre cuando y la calidad o tipo de interés que un principal extranjero puede mantener, si es que puede tener, en ciertas propiedades en la Florida.

05/15/2023

ALERT! Legislative Update re Foreign Interests in Real Property

The legislature was busy this year, and while there are several laws impacting real estate that we are analyzing for our Members, here is one to note in particular:

• SB 264, Chapter No. 2023-33, effective July 1, 2023. See, https://laws.flrules.org/2023/33

Among other things, this law sets some distinct requirements on the timing and type of interests foreign principals may maintain, if at all, in certain Florida real estate.

05/15/2023

Chapter 159 and How to Clear the Standard Exception

Fund commitments contain a standard exception for any lien provided by county ordinance or by Ch. 159, F. S. More specifically, the exception excepts from coverage, “Any lien provided by County Ordinance or by Chapter 159, F.S., in favor of any city, town, village or port authority, for unpaid service charges for services by any water systems, sewer systems or gas systems serving the land described herein; and any lien for waste fees in favor of any county or municipality” (the Exception). Of particular note, this Exception not only relates to Ch. 159 municipal liens, but also liens created by county ordinance. The goal of this article is to explore why the Exception is included on Fund commitments, and how to delete it. Read the article

05/01/2023

ALERT! FinCEN GTO – Extended

A new Geographic Targeting Order (GTO) has been issued effective April 25, 2023 and ending on October 21, 2023.

View the New Geographic Targeting Order (GTO)

04/24/2023

ALERT Update! Change in premium rates.

I am very pleased to update you on the legislation filed earlier this month that changed the way title premiums are set (from promulgated to "file and use").

An amendment has been filed that removes this provision from the Senate version of the bill.  (It was not in the House version of the bill from the beginning.)  This is great news for us.

04/19/2023

ALERT Update! Change in premium rates

On April 5, 2023, I sent an alert about Senate Bill 7052 which contained provisions changing Florida's title premium rate from a promulgated rate to a "file and use" model.  Today's alert is an update on that situation.

04/12/2023

ALERT! Change in premium rates

On Monday, April 3, 2023, proposed Senate Bill 7052 was filed.  Section 23 of that bill would effectively eliminate promulgated rates for title insurance in Florida.  Recognizing the huge potential impacts of such a change to Florida’s rate structure, The Fund, the members of the Florida Land Title Association and the Real Property, Probate and Trust Law Section of the Florida Bar immediately began efforts to educate Florida lawmakers on this issue.  We emphasized how our current rate structure supports title agents.  While we want to make you aware of this proposed legislation, please rest assured that The Fund and its professional team in Tallahassee are working to oppose Section 23, of Senate Bill 7052.

04/05/2023

Authorized Agent Letter and the Title Agent’s Responsibilities

As part of the closing process, once a Fund Member has received a contract to conduct a closing and issue title insurance policies, the lender involved may request confirmation that the Fund Member, also referred to as the Closing Agent, is in good standing with their title insurance underwriter. This letter is commonly referred to as an Authorized Agent Letter. This article describes the Authorized Agent Letter and, if requested, how a Fund Member may obtain it. The request for an Authorized Agent Letter serves as a good reminder of the duties and responsibilities of Fund Members as title agents. This article also reviews some related best practices and procedures. Following the best practices ensures the proper measures are being taken during a transaction to help prevent any instances of fraud or a cloud on title from occurring.  
Read the article

04/03/2023