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SC Underwriting Summary

2021-06-08T21:38:05Z

Randywilliams: /* Search/Exam */

==Search/Exam==
*Search and Exam are Practice of Law. Attorney supervised search required.
*Minimum Search Requirements -- No statutory minimum, most attorneys search 40 – 60 years pursuant to [https://uww.wfgnationaltitle.com/images/c/cf/SC_Handbook_for_Dirt_LawyersSWFG_Nation17071213210.pdf SC Bar guidance]
*Plant or other search restrictions -- No
*Additional Requirements for REO Searches -- N/A
*Foreclosure Checklist -- N/A
*Special Searches Required (Code, HOA, Utilities)? --
*Survey Requirements --
**Purchase – yes if new construction
**Refinance – no
*UPL Hot Button Issues -- Extreme caution required for SC Transactions; WFG approved attorney is Mark Keegan; closing with any other attorney requires written approval from Compliance.
* As of May 1, 2021, the South Carolina Department of Employment and Workforce iniated a statewide online tax lien registry for the filing and indexing of state tax liens. After April 30, 2021, counties will no longer receive state tax liens, satisfgactions or expungements from DEW. A search of the DEW Tax Lien Registry can be conducted at the following url: https://uitax.dew.sc.gov/LienRegistry/registry

==UPL==
South Carolina is a traditional attorney-state which defines the closing of real estate transactions as the practice of law. The SC Supreme Court has identified five functions which constitute the practice of law:
*Supervision of the title search and title examination;
*Review of closing documents;
*Supervision of the closing (Note: paralegals may not conduct closings);
*Supervision of the recording of documents;
*Supervision of the disbursement of funds.
In Matrix Financial Services Corp. v. Frazer, 394 S.C. 134; 714 S.E.2d 532 (2011) the Supreme Court held that a mortgage loan not closed by a South Carolina licensed attorney could be denied equitable relief in a foreclosure action.

[http://uww.wfgnationaltitle.com/images/0/0d/SC_Cases_and_Summary.pdf More details on SC UPL]

[https://www.sccourts.org/opinions/HTMLfiles/SC/27727.pdf This is a good explanation of how to do this correctly for National Agents]

==Vesting==
*S.C. does not recognize Tenancy by the Entirety.
*Statute recognizes JTROS. Specific creation language recognized per SC 27-7-40 "as joint tenants with rights of survivorship, and not as tenants in common"
*Also recognizes tenants in common
==Witness Requirements==
*Deeds, mortgages, and powers of attorney require two witnesses and must be notarized.
*Notary may serve as one of witnesses
*The notary may use either an acknowledgment or probate (the probate being a South Carolina method of authenticating a document whereby the witnesses attest to the validity).

==Spousal Joinder Requirements/Homestead==
*Spouses not in title not required to join in the execution of deeds or mortgages.

*South Carolina does not recognized civil unions.

==Probate==

*S.C. does not rely on Affidavits of Heirship

==Power Of Attorney==
==Construction Liens==
==Foreclosure Review==
==Instrument Requirements==
==Who May Serve As Trustee On Deed Of Trust==
*S.C. is a mortgage state. Deeds of trust are not permitted.
==Time Limitations==
*US Judgment Liens -- 20 years, renewable for 20 years
*State Court Judgment Liens -- 10 years (unless appeal pending -- case has "active energy")
*Lis Pendens -- 5 Years
*Federal Tax Liens -- 10 years (+30 days); can be refiled
*State Tax Liens -- 10 years
*Estate Tax Lien -- Federal 10 years
*State Inheritance Tax Liens --
*Mechanics Liens -- 6 months if suit is not filed
*Financing Statements -- 5 years + 6 Months, can be renewed for additional 5 year terms
*Mortgages -- 20 years from maturity
*HOA Liens -- 10 years
*Condominium assessments --
*DSS for Child Support Liens – 6 years
*Mental Health Liens -- 10 years (may be perpetual)
Some Counties have hospital liens, environmental liens and Miscellaneous liens

Updated per Clint Yarborough 7-12-17

==Odd Stuff==
*The attorney who paid off a mortgage loan may satisfy the mortgage by affidavit if he or she has a written payoff statement from the lender and the cancelled check or proof of wire transfer for the proceeds paid to the lender.

*There is no general usury limits on non-consumer transactions. Interest on consumer credit transactions are limited by [http://www.scstatehouse.gov/code/t37c002.php S.C. Code Ann. Section 37-2-201].

MT Underwriting References

2018-12-04T18:52:49Z

Randywilliams: /* Judgments and Liens */

==Agency==
===Powers of Attorney===
===Corporate Authority===
==Agreement for Deed==
==Agreement Not to Transfer or Encumber==
==Agreements==
==Agricultural Lands==
==Alien Land Ownership==
==Aliens Ineligible To Citizenship==
==Alteration of Instruments==
==Bankruptcy==
===State Specific===
===General===
==Cemeteries==
==Chattel and Crop Mortgages==
==Churches==
==Common Law Syndicates or Trusts==
==Community and Separate Real Property==
==Condominiums, Homeowners’ Associations and Common Interest Developments==
==Construction Liens==
==Contracts for Sale==
==Conveyances ==
==Corporations==
==Courts==
===Actions affecting Title===
===Due Process===
===Lis Pendens===
===Documenting the Record===
===Enforcement of Judgments===
===Servicemembers Civil Relief Act (Soldiers & Sailors)===
==Covenants, Conditions and Restrictions==
==Creditors’ Rights & Fraudulent Transfers==
==Deeds==
==Descriptions==
==Dissolution of Marriage==
==Easements==
==Eminent Domain==
==Entities==
==Escrows==
==Estates of Decedents==
==Federal Estate Tax==
==Federal Housing Administration Loans==
==Federal Land Bank Loans==
==Federal Tax Liens==
==Fissionable Materials Reservations==
==Flexible Purpose Corporations==
==Foreclosure Of Mortgages==
==Forfeiture==
==General Partnerships==
==Generally==
==Guardianship, Conservatorships and Other Protective Proceedings==
==Homestead ==
==Identity of Persons==
==Incompetents & Minors==
==Indian Titles==
==Judgments and Liens==

In Montana, Civil Judgment Liens become a lien upon all property, including all real property owned or acquired by the Judgment Debtor, when the judgment is docketed by the clerk (25-9-301 (1) M.C.A.). Since the definition of Public Records in Montana includes “any medium and is retrievable in usable form …designated for retention by the state records committee, judicial branch, legislative branch, or local government records committee” (2-6-1002 (13) M.C.A.), judgments become a lien upon the property of the judgment debtor when docketed. When fines or costs are levied against a defendant in a criminal case, those fines or costs are a lien when docketed. When searching the records in a particular county, the abstractor is required to search the records in the county clerk/recorder's office, as well as in any local courts. Both civil and criminal court judgments may be indexed in the court records. Although no specific M.C.A. section specifies criminal fines and costs become a lien on real property, Section 46-19-102 M.C.A. specifies that criminal fines imposed by a criminal judgment may be executed upon in the same manner as a judgment in a civil case.

==Land Trust==
==Leases ==
==Letters of Indemnity Between Title Companies, Reliance on Mutual Indemnification Agreement==
==Life Estates==
===Creation & Recognition===
===Lady Bird Deeds===

==Maps==
==Marital Homestead in Probate Proceedings==
==Marital Property ==
==Marketable Record Title Act & Curative Acts==
==Minerals==
==Missing Persons==
==Mobile homes, Manufactured Homes And Commercial Coaches==
==Mortgages & Deeds of Trust==
==Notary & Acknowledgments==
==Plats & Subdivisions==
==Plats And Streets==
==Pre-U.S. Land Grants (British, Spanish, Mexican, French, Russian)==
==Probate & Estates==
==Public Lands==
==Restrictions And Reverters==
==Servicemembers Civil Relief Act==
==Special Risks/Ultra-Hazardous Risks==
==Spousal Interests==
===Divorce===
===Joinder Requirements===

==State and Local Transfer Taxes==
==State Law Reservations==
==Streets==
===Vesting===
===Usage Rights===
===Abandonment & Vacation===
==Surveys And Title Insurance==
==Tax Liens==
===Federal Income and Other Taxes===
===Federal Estate Tax===
===State Income Tax===
===Property Tax===
=== Other State and Local Taxes===
==Taxation And Tax Titles==
==Taxes And Assessments==
==Tenancies==
==Trusts And Trustees==
==Truth-In-Lending==
==Unauthorized Practice of Law==
==Uniform Commercial Code (UCC)==
==Uniform Federal Lien Registration Act==
==Usury==
==Utilities==
==Water And Water Rights==
==Waters And Watercourses==
==Zoning==

AZ Underwriting Summary

2018-10-02T18:56:23Z

Randywilliams: /* Time Limitations */

==Search/Exam==

*Minimum Search Requirements -- No state law sets minimum period of time for a title search but a title plant must typically have a minimum 40 year chain;
There is not a marketable record title act in Arizona.

*Plant or other search restrictions -- Yes if over 100k population in county. [http://www.id.state.az.us/index.html Department of Insurance Link]. Title plant maintenance includes being a lessee or joint owner of a title plant. Alternatively, you may base your title policy on a title policy issued to you from a title insurer who does maintain such a title plant in the respective county or counties.

*Additional Requirements for REO Searches -- No

*Special Searches Required (Code, HOA, Utilities)? Included in normal search

*Survey Requirements
**Purchase – no
**Refinance - no

==UPL==
* Doc prep is UPL
*Arizona state law does not require attorney or abstractor involvement; however policies must be issued by a licensed issuing agent with Dept. of Insurance with an Arizona licensed title insurer.
**[http://wiki.wfgstaging.com/images/0/07/Arizona_Supreme_Ct_Rule_31_Practice_of_Law.docx Rule 31, Rules of the Supreme Court of Arizona]
**[http://wiki.wfgstaging.com/images/9/9e/State_Bar_of_Ariz_v_Arizona_Land_Title_And_Trust_Co_%282%29.pdf State Bar of Ariz. v. Arizona Land Title & Trust Co., 366 P.2d 1, 12 (Ariz. 1961)]

==Vesting==

==Property Tax ==

==Mortgage/Transfer Tax==

==Spousal Joinder Requirements/Homestead==

Joinder by non-title spouse not required by law. However Arizona is a community property state.

==Power Of Attorney==

==Construction Liens==

==Foreclosure Review==

==Instrument Requirements ==

==Who May Serve As Trustee On Deed Of Trust==

==Time Limitations==

*US Judgment Liens 20 years, renewable for 20 years

*State Court Judgment Liens 5 years unless renewed by affidavit or process per s. 12-1612. Governing statute is 12-1551
*5 year limit does not apply to:
**Criminal Restitution Orders per 13-805,
**Child support, Spousal maintenance & related orders
**Judgments for supervision fees or expenses related to care of juvenile per 8-241, 8-243
**Civil judgments obtained by the state

*Child Support notice of deficiency -- Defense 10 years after emancipation of the youngest child (18, marriage, death) A.R.S. § 25-503(J)

*Federal Tax Liens 10 years (+30 days); can be refiled

*State Tax Liens

*Estate Tax Lien Federal 10 years

*State Inheritance Tax Liens

*Mechanics Liens; Time for filing lien: 120 day following completion of structure of improvements-"Completion"=30 days after final inspection or cessation of labor A.R.S. 33-993
**filed lien lasts 6 months, if no law suit filed

*Financing Statements 5 years

*Mortgages A Mortgage or Deed of Trust may be consider satisfied after 10 years after the maturity date shown on the recorded Mortgage or Deed of Trust or 50 years form the date of recording if no maturity date is shown on the recorded instrument. A.R.S. 33-714.

*HOA Liens 2 years

*Condominium assessments 2 years

==Odd Stuff==
*Title insurer has statutory authority to release subject to the requirements in A.R.S. 33-707.

*Arizona Department of insurance is the governing body where both rates and forms are filed. [http://www.id.state.az.us/index.html.title. DOI Website]

*Usury endorsement is available. The statutory maximum rate of interest is 10% per annum, unless a different rate is contracted for in writing, in which case any rate of interest may be agreed upon. ARS 44-1201. Usury also constitutes a misdemeanor crime. ARS 13-2208.