CA Underwriting Summary - Revision history

Alanfields at 16:52, 19 April 2022

2022-04-19T16:52:57Z

Alanfields: /* Time Limitations */

2015-09-08T16:54:02Z

‎Time Limitations

Abfields: /* Odd Stuff */

2014-12-14T19:47:17Z

‎Odd Stuff

Abfields: /* Mortgage/Transfer Tax */

2014-12-14T19:46:55Z

‎Mortgage/Transfer Tax

Abfields: /* Odd Stuff */

2014-12-14T19:45:02Z

‎Odd Stuff

Abfields: /* Who May Serve As Trustee On Deed Of Trust */

2014-12-14T19:44:23Z

‎Who May Serve As Trustee On Deed Of Trust

Abfields: /* Spousal Joinder Requirements/Homestead */

2014-12-14T19:36:50Z

‎Spousal Joinder Requirements/Homestead

Abfields: /* Odd Stuff */

2014-12-14T19:35:26Z

‎Odd Stuff

Abfields: /* UPL */

2014-12-14T19:33:08Z

‎UPL

Abfields: Created page with "==Search/Exam== Minimum Search Requirements Recent records only Plant or other search restrictions Yes Additional Requirements for REO Searches N/A Foreclosure Checklist N..."

2014-10-19T00:15:51Z

Created page with "==Search/Exam== *Minimum Search Requirements Recent records only *Plant or other search restrictions Yes *Additional Requirements for REO Searches N/A *Foreclosure Checklist N..."

New page

==Search/Exam==
*Minimum Search Requirements Recent records only
*Plant or other search restrictions Yes
*Additional Requirements for REO Searches N/A
*Foreclosure Checklist N/A
*Special Searches Required (Code, HOA, Utilities)?
*Survey Requirements
**Purchase – No
**Refinance – No
*UPL Hot Button Issues None

==UPL==

==Vesting==

==Property Tax ==

==Mortgage/Transfer Tax==

==Spousal Joinder Requirements/Homestead==

==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 10 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 90 days
*Financing Statements
*Mortgages
*HOA Liens
*Condominium assessments
*Child Support Liens

==Odd Stuff==

← Older revision		Revision as of 19:47, 14 December 2014
Line 72:		Line 72:
	*Title insurance companies can issue a Release of Obligation for paid mortgages. Civil Code [http://codes.lp.findlaw.com/cacode/CIV/5/d3/4/14/2/1/s2941.7 2941.7].		*Title insurance companies can issue a Release of Obligation for paid mortgages. Civil Code [http://codes.lp.findlaw.com/cacode/CIV/5/d3/4/14/2/1/s2941.7 2941.7].
	*Title forms and rates are filed with the California Department of Insurance (www.insurance.ca.gov).		*Title forms and rates are filed with the California Department of Insurance (www.insurance.ca.gov).
		+	*CALFIRPTA requires withholding of three and one/third percent of the sales price.

← Older revision		Revision as of 19:46, 14 December 2014
Line 25:		Line 25:
	==Mortgage/Transfer Tax==		==Mortgage/Transfer Tax==

		+	No Mortgage Tax
		+
		+	County Transfer Tax - $1.10 per $1,000 of the purchase price less liens and encumbrances at time of sale.
		+
		+	City Transfer Taxes – varies by specific cities that have transfer taxes.

	==Spousal Joinder Requirements/Homestead==		==Spousal Joinder Requirements/Homestead==

← Older revision		Revision as of 19:45, 14 December 2014
Line 66:		Line 66:

	*Title insurance companies can issue a Release of Obligation for paid mortgages. Civil Code [http://codes.lp.findlaw.com/cacode/CIV/5/d3/4/14/2/1/s2941.7 2941.7].		*Title insurance companies can issue a Release of Obligation for paid mortgages. Civil Code [http://codes.lp.findlaw.com/cacode/CIV/5/d3/4/14/2/1/s2941.7 2941.7].
		+	*Title forms and rates are filed with the California Department of Insurance (www.insurance.ca.gov).

← Older revision		Revision as of 19:44, 14 December 2014
Line 46:		Line 46:
	==Who May Serve As Trustee On Deed Of Trust==		==Who May Serve As Trustee On Deed Of Trust==

		+	California is a deed of trust state. The Trustee can be a natural person or legal entity. There is no residency requirement. Customary for Title Insurer to serve in this role.

	==Time Limitations==		==Time Limitations==

← Older revision		Revision as of 19:36, 14 December 2014
Line 28:		Line 28:
	==Spousal Joinder Requirements/Homestead==		==Spousal Joinder Requirements/Homestead==

		+	California is a community property state. A non-title holding spouse or domestic partner is required to join in the execution of a deed or deed of trust unless title is as "sole and separate property."
		+
		+	CA has a domestic partnership statute (CA Family Code Section 297).

	==Power Of Attorney==		==Power Of Attorney==

@@ Line 66: / Line 66: @@
 *HOA Liens
 *Condominium assessments
-*Child Support Liens
+*Child Support Liens      Forever.
 ==Odd Stuff==

@@ Line 60: / Line 60: @@
 *Estate Tax Lien	Federal 10 years
 *State Inheritance Tax Liens
-*Mechanics Liens	90 days
+*Mechanics Liens	must be filed w/i 30 days following recordation of a "valid" Notice of Completion; 90 days following an "invalid" or no Notice of Completion	CA Civil Code 3084
 *Financing Statements
 *Mortgages
 *HOA Liens
 *Condominium assessments
 *Child Support Liens
 ==Odd Stuff==

← Older revision		Revision as of 19:35, 14 December 2014
Line 60:		Line 60:

	==Odd Stuff==		==Odd Stuff==
		+
		+	*Title insurance companies can issue a Release of Obligation for paid mortgages. Civil Code [http://codes.lp.findlaw.com/cacode/CIV/5/d3/4/14/2/1/s2941.7 2941.7].

← Older revision		Revision as of 19:33, 14 December 2014
Line 13:		Line 13:
	==UPL==		==UPL==

		+	Only licensed underwritten title companies and licensed title insurance companies can issue title insurance. There is no state requirement for the involvement of an attorney, abstractor or other special professional. “Professionals” may be retained to provide information to underwritten title companies or title insurance companies but cannot issue title insurance.
		+
		+	Title and escrow companies are permitted to prepare “form” documents but otherwise legal documents must be prepared by an attorney.

	==Vesting==		==Vesting==

CA Underwriting Summary - Revision history

Alanfields at 16:52, 19 April 2022

Alanfields: /* Time Limitations */

Abfields: /* Odd Stuff */

Abfields: /* Mortgage/Transfer Tax */

Abfields: /* Odd Stuff */

Abfields: /* Who May Serve As Trustee On Deed Of Trust */

Abfields: /* Spousal Joinder Requirements/Homestead */

Abfields: /* Odd Stuff */

Abfields: /* UPL */

Abfields: Created page with "==Search/Exam== *Minimum Search Requirements Recent records only *Plant or other search restrictions Yes *Additional Requirements for REO Searches N/A *Foreclosure Checklist N..."

Abfields: Created page with "==Search/Exam== Minimum Search Requirements Recent records only Plant or other search restrictions Yes Additional Requirements for REO Searches N/A Foreclosure Checklist N..."