Title Underwriting in Idaho
From WFG Wiki
Odd Stuff
- Child Support Liens - Filed in Boise at the State level – have to search Boise State Records. No lien shall continue more than 5 years after date of majority or death of child. Valid reason NOT to show: Decree (Clerk will not certify) from the Clerk of the Court showing paid. Child Support payments are collected by the Clerk of the Court. If more than one child, lien continues until date of majority of youngest child.
- Determination of Insurability: Prohibited Risks – Rebates
Title 41-Chapter 27 (41-2708 (4)) – Forwarding Fees – No person forwarding or directing title insurance business to a title insurer or title insurance agent in Idaho, nor such insurer or agent receiving such business, shall give or receive anything of value, or a portion of the premium, therefor.
- Minerals: Should include a mineral exception as a standard exception.
- The Idaho Rate Manual establishes a charge for the cancellation of a commitment at 20% of the basic schedule of charges if cancelled prior to closing and at 80% of the basic schedule of charges if cancelled after closing.
- A title insurer or agent may reconvey a deed of trust if the obligation secured by the deed of trust has been fully paid by the title insurer or agent or if the title insurer or agent has satisfactory evidence of the full payment of the obligation secured by the deed of trust. See Idaho Stat. 45-1202. Process requires notice of intent to release or reconvey with copy of reconveyance. Idaho Stat. 45-1203. 60 day objection period after mailing. Idaho Stat. 45-1204.
- Usury coverage is not available in Idaho.
