Fund News and Alerts

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

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

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).

By now, you are probably aware that the Florida Office of Insurance Regulation (OIR) approved the 2021 ALTA Title Insurance Forms for use effective October 3, 2022.  Use of the new forms will be required after a short transition period and here are a few key resources that will help you prepare for that change.

On August 26th, the Florida Aviation Network empaneled a group of experts to discuss Unmanned Aircraft Systems...

If you have not read the Florida ARECS Blog recently, you need to check it out!  We discuss a variety of topics of interest to REC Member Attorneys, Realtors and consumers.  We encourage you to read our latest post, Whose Property Is It Anyway: Heirs Property and Its Impact on Underserved Communities, written by Brenda Ezell of the Ezell Law Firm in Jacksonville. 

On September 5^th, over 150 real estate attorneys and real estate agents from across Central Florida gathered at the Florida Hotel.  This day-long event addressed a wide range of topics including Probate, presented by Stephen Chong, Esq, Short Term & Vacation Rentals, presented by Nishad Khan, Esq., Seller’s Disclosure Statements, presented by Lew Oliver, Esq., and FREC Issues & Team Advertising, presented by Randy Schwartz, Esq., Commissioner with the Florida Real Estate Commission.  The Legal Summit offered Florida Bar CLE for attorneys, as well as 8 hours of Specialty CE credit for licensed real estate agents.

By: René Rutan, REC Relations Manager, Attorneys Title Fund Services, LLC

The real estate settlement industry has been in overdrive preparing for the October 3rd implementation of the CFPB’s new TILA-RESPA Integrated Disclosures Rule (TRID) but have you considered how the process changes contemplated will affect your use of the Florida Realtors^® – Florida Bar Residential Sales Contract (FR/BAR)?

On December 3, the Central Florida Real Estate Attorneys’ Council (CFREAC) presented the U.S. Marine Corps with 2700 toys.

New REC Presidents for 2019!

Becoming a leader of a Real Estate Council can be filled with challenges but there is a way to make it a lot easier.  Get your copy of the Florida ARECS Leadership Guide!  This handy reference outlines important topics like governance, taxes and leadership structure.  It offers samples of documents including By-laws, Membership Drive Letter, and a New Member Welcome Letter.  The Leadership Guide provides suggestions for programming and can connect you to other REC leaders from across the state so you can reach out to others who know what it’s like to lead a REC.