Fund News and Alerts

  • Latest REC News - May & June 2023

    Fund General Counsel Melissa Murphy addressed members of the Broward Attorneys’ Real Estate Council on March 15th to discuss notable bills moving through the Florida Legislature and the impacts of those likely to pass.  She also provided a brief update on happenings at The Fund.

    05/31/2023

  • 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

    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

  • 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

  • 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.

    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

  • Don't Miss BAREC's Upcoming Seminar in Your Area

    Dec 2nd - TRID is Here. Now What? presented by Margaret Atkins Thumberg, Esq., Fund Senior Underwriting Counsel & Legal and Branch Education Manager. What can real estate licensees do to assist their clients in making their next home sale or purchase run smoothly in this new regulatory environment?

    04/10/2023

  • eClosings: Coming Soon to a Closing Table Near You

    By Maggie Thumberg, Senior Manager, Continuing Legal Education, The Fund

    ARECS members have been hearing a lot about electronic closings and digital mortgages...

    04/10/2023

  • FIRPTA Withholding Rate to Increase to 15%

    Recent federal tax legislation increases the FIRPTA general withholding rate from 10% to 15% effective for closings on or after February 16, 2016. Closing agents should adjust their procedures and forms to reflect this change. (If you want a reference, it is H. R. 2029, now known as Public Law 114-113. See Section 324 for text of changes).

    04/10/2023

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