Fund News and Alerts


New Trust on The Block: Community Property Trust Act

New Trust on The Block: Community Property Trust Act

Effective July 1, 2021, the Florida Legislature passed the Community Property Trust Act as Ch. 736, Part XV, F.S., (the Act). Prior to the Act, Florida was a pure “common law property” state, meaning that the way title was held determined who owned the property. In community property states, “community property” means that the assets acquired during the marriage are owned by each spouse equally, regardless of how title is held. The Community Property Trust Act gives people the option of holding assets in Florida as “community property” by transferring them to a community property trust.

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07/01/2023


Standing By: Letters of Credit in Commercial Real Estate Transactions

Standing By: Letters of Credit in Commercial Real Estate Transactions

A letter of credit (LOC) is a document from a financial institution guaranteeing payment once the conditions of the LOC are met. They may be useful in a variety of commercial real estate scenarios, from purchase and sale to landlord/tenant issues. 

Another description of the LOC comes from the decision in In re Lancaster Steel Co., Inc. 284 B.R. 152 (S.D. Fla. 2002): “A unique commercial vehicle designed to substitute the creditworthiness of a neutral party for that of a party interested in an underlying transaction and assure prompt payment of obligations.

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06/01/2023


An Easy Way to Promote Your Practice & Value to Real Estate Profess...

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 - E...

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:

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

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:

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

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 Update! Change in premium rates.

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

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

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

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.  
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04/03/2023

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