FL Underwriting Summary - Revision history

Alanfields at 14:56, 29 May 2024

2024-05-29T14:56:15Z

Alanfields: /* Mortgage/Transfer Tax */

2019-01-03T01:29:25Z

‎Mortgage/Transfer Tax

Alanfields: /* Time Limitations */

2018-12-20T23:31:52Z

‎Time Limitations

Alanfields: /* Time Limitations */

2018-12-20T22:22:06Z

‎Time Limitations

Alanfields: /* Time Limitations */

2018-12-20T22:20:51Z

‎Time Limitations

Joetschida: /* Vesting */

2016-05-15T21:08:20Z

‎Vesting

Patneu: /* Construction Liens */

2015-11-04T19:40:02Z

‎Construction Liens

Patneu: /* Search/Exam */

2015-11-04T19:37:06Z

‎Search/Exam

Patneu: /* Foreclosure Exam */

2015-11-04T19:35:54Z

‎Foreclosure Exam

Abfields at 00:49, 15 December 2014

2014-12-15T00:49:42Z

← Older revision		Revision as of 14:56, 29 May 2024
Line 2,596:		Line 2,596:
	7. Florida Statute 701.041 authorizes an officer or an appointed agent of a title insurer to execute a certificate of release for a mortgage in the event the mortgagee fails to record a satisfaction of mortgage and release after receiving a payment in full of the loan secured by the mortgage in accordance with a payoff statement furnished by the mortgage servicer. In practice, this is only done to resolve title claims.		7. Florida Statute 701.041 authorizes an officer or an appointed agent of a title insurer to execute a certificate of release for a mortgage in the event the mortgagee fails to record a satisfaction of mortgage and release after receiving a payment in full of the loan secured by the mortgage in accordance with a payoff statement furnished by the mortgage servicer. In practice, this is only done to resolve title claims.

−	Updated 8/26/14 by Alan B. Fields	+	Updated 8/26/14 by Alan B. Fields and many times since by Joe Tschida

@@ Line 47: / Line 47: @@
 == Mortgage/Transfer Tax ==
 *Documentary Stamp Tax - Deeds $0.70 per $100.00 (Dade County $0.60 per $100.00)
 *Miami-Dade County charges an additional Documentary Stamp Surtax of $0.45 per $100.00 on other than single family residence
 *Documentary Stamp Tax - Mortgages $0.35 per $100.00
 *Intangibles - $0.20 per $100.00 on the amount financed charged on mortgages
 == Spousal Joinder Requirements/Homestead==

@@ Line 1,377: / Line 1,377: @@
    mso-fareast-font-family:"Times New Roman";color:black'>Although [https://www.law.cornell.edu/uscode/text/28/3201 28 U.S.C. 3201] reads as an absolute 20 years on all federal court judgments, it is part of a chapter which applies only to the enforcement of debts owed the United States.  [https://www.law.cornell.edu/uscode/text/28/3001 28 U.S.C. 3001]
 <span
-   style='mso-spacerun:yes'>   </span>7-7-6.<span style='mso-spacerun:yes'>
+   style='mso-spacerun:yes'>   </span><span style='mso-spacerun:yes'>
    </span></span></p>
    </td>

@@ Line 1,285: / Line 1,285: @@
    mso-fareast-font-family:"Times New Roman";color:black'>10 years from date of
    recording in land records, may be renewed for additional 10 years by
-   re-recording. §55.10  28 U.S.C. 1962<span style='mso-spacerun:yes'>    </span>Not to exceed a
+   re-recording. §55.10    [https://www.law.cornell.edu/uscode/text/28/1962 28 U.S.C. 1962]<span style='mso-spacerun:yes'>    </span>Not to exceed a
    maximum of 20 years from date of entry of judgment. §55.081; §95.11(1)</span></p>
    </td>

@@ Line 1,275: / Line 1,275: @@
    <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;line-height:
    normal'><span style='font-size:10.0pt;font-family:"Times New Roman","serif";
-   mso-fareast-font-family:"Times New Roman";color:black'>Judgments</span></p>
+   mso-fareast-font-family:"Times New Roman";color:black'>Judgments, Except Federal Court Judgments in favor of United States</span></p>
    </td>
    <td valign=top style='border-top:none;border-left:none;border-bottom:solid windowtext 1.0pt;
@@ Line 1,285: / Line 1,285: @@
    mso-fareast-font-family:"Times New Roman";color:black'>10 years from date of
    recording in land records, may be renewed for additional 10 years by
-   re-recording. §55.10<span style='mso-spacerun:yes'>    </span>Not to exceed a
+   re-recording. §55.10  28 U.S.C. 1962<span style='mso-spacerun:yes'>    </span>Not to exceed a
    maximum of 20 years from date of entry of judgment. §55.081; §95.11(1)</span></p>
    </td>
@@ Line 1,325: / Line 1,325: @@
    </td>
     </tr>
   <tr style='mso-yfti-irow:2;page-break-inside:avoid;height:152.0pt'>
    <td valign=top style='border:solid windowtext 1.0pt;border-top:none;

@@ Line 19: / Line 19: @@
 •	Individual
-•	Tenancy by the entireties  (Florida has constitutional and statutory prohibitions on recognition of same-sex marriage, so same-sex couples don’t qualify for treatment as entireties property.)
+•	Tenancy by the entireties
 •	Joint tenancy with right of survivorship

← Older revision		Revision as of 19:40, 4 November 2015
Line 92:		Line 92:

	TO BE ADDED		TO BE ADDED
−
−
−
−
−	~~FORECLOSURE CHECKLIST~~
−
−	~~CASE No.: _______________________~~
−
−	~~Mortgage recorded in Book/Page: ____________________County: ________________________~~
−
−	~~Verify Legal Description in Mortgage vs LP:~~
−
−	~~Complaint filed: ____________ Legal Correct? Filed in correct county?~~
−
−	~~Does it allege execution/delivery of Note/Mortgage?~~
−
−	~~Copies of Note/Mortgage attached to Complaint?~~
−
−	~~Complaint alleges default on part of borrower & states amount due and payable?~~
−
−	~~Mortgage to be foreclosed includes lands in two or more counties? Consult with underwriting~~
−
−	~~Plaintiff is Record holder of Note and Mortgage?~~
−
−	DEFENDANTS: INTEREST: TYPE OF SERVICE: RESPONSE: COMMENTS:
−
−	~~___________________________________________ _______________________ __________________ ____________ ____________________________________________________________________~~
−
−	~~___________________________________________ _______________________ __________________ ____________ ____________________________________________________________________~~
−
−	~~___________________________________________ _______________________ __________________ ____________ ____________________________________________________________________~~
−
−	~~___________________________________________ _______________________ __________________ ____________ ____________________________________________________________________~~
−
−	~~___________________________________________ _______________________ __________________ ____________ ____________________________________________________________________~~
−
−	~~___________________________________________ _______________________ __________________ ____________ ____________________________________________________________________~~
−
−	~~___________________________________________ _______________________ __________________ ____________ ____________________________________________________________________~~
−
−
−
−	~~SERVICE BY PUBLICATION: Diligent Search Affidavit? If yes, does the affidavit recite supporting facts? If no, consult underwriting.~~
−
−	~~Guardian/Attorney/Executor Ad Litem appointed?~~
−
−	~~Notice of Action published once during each week for 2 consecutive weeks in county where court with jurisdiction in action located?~~
−
−	~~Proof of Publication correct:~~
−
−	Proof of publication shall be made by affidavit of the owner, publisher, proprietor, editor, business manager, foreman or other officer or employee of the newspaper having knowledge of such publication. The affidavit shall set forth or have attached a copy of the notice, shall set forth the dates of each publication and otherwise comply with the requirements of law. Fla. Stat. 49.10(2)
−
−	~~If addresses known, Notice of Action mailed within 10 days after making or posting the Notice and duly noted on docket?~~
−
−	~~SERVICEMEMBERS CIVIL RELIEF ACT:~~
−
−	~~Is Defendant member of uniformed services? If no, Affidavit obtained stating Defendant not in military?~~
−
−	~~If yes, was Mortgage Foreclosure action initiated during, or 90 days after, the serviceman’s duty?~~
−
−	~~Court Order authorizing foreclosure with return made and approved by court? Did Defendant make appearance?~~
−
−	If no, Attorney ad Litem appointed? Did Plaintiff file Affidavit (1) stating if Defendant is in military service and showing supporting facts; or (2) statement that Plaintiff unable to determine whether or not Defendant is in military service?
−
−	~~If in doubt, consult underwriting.~~
−
−	~~Record owner deceased? Yes – check with underwriting~~
−
−
−	~~LIS PENDENS: Filed date ______________________ Recorded date _____________________________ in Book/Page _______________________________~~
−
−	~~Is record owner bankrupt? Stay lifted?~~
−
−	~~Names of owner (s) of real property correct?~~
−
−	~~Are all Defendants listed above named?~~
−	~~Any unrecorded lien holders intervene in foreclosure? If yes consult with underwriting.~~
−
−	~~FINAL JUDGMENT OF FORECLOSURE: Filed date ______________________ Recorded date_____________________________ in Book/Page _______________________________~~
−
−	~~Contains: Amount due Plaintiff, recitation that plaintiff holds lien superior to interests of defendants and legal description correct?~~
−
−	~~Time, date place and sale given?~~
−
−	~~If Final Summary Judgment after 7-1-2006:~~
−	~~Does it contain Statement required by Section 45.031(1)(a), Fla. Stat.?~~
−	~~Does it contain Statement required by Section 45.031(1)(b), Fla. Stat.? (required if property being foreclosed qualified for homestead tax exemption on most recent tax roll)~~
−
−	~~Any additional requirements listed in Final Judgment?~~
−
−	~~Notice of Sale properly published? (Right County, right legal)~~
−	.
−	~~If after 7-1-2006, contains statement that any person claiming interest in surplus other than owner as of date of Lis Pendens must file claim within 60 days after sale?~~
−
−	~~Is Foreclosure Sale 20 - 35 days from date of Final Judgment? If more than 35 days, did Plaintiff or Plaintiff’s Attorney consent?~~
−
−	~~Certificate of Sale served to each party and contains certification as to publication of Notice of Sale?~~
−
−	~~Any objections filed within 10 days of sale? If yes, Hearing and Order entered disposing of objections?~~
−
−	~~Was Bid or Certificate of Sale Assigned? If yes, to who?~~
−
−	~~CERTIFICATE OF TITLE Recorded ______________________________in Book/Page _____________________________ to ___________________________~~
−
−	~~Is legal correct? (Grantee in Certificate of Title same as Successful Bidder or assignee of Assignment of Bid)~~
−
−	Any of the above Defendants the United States of America or one of its affiliated agencies? If interest is for Junior Mortgage, did it assert its right of redemption? If no, and they were properly served, right of redemption is waived. If yes, take exception for their right of redemption.
−
−	If interest is Junior Tax Lien or Other Non-Mortgage interest, did it waive its right of redemption (or has time period expired)? If no, take exception for their right of redemption made? Note: redemption period is 120 day period for Tax Liens; 1 year for other interests
−
−	~~If one-to-four family property take exception for Federal “Helping Families Save Their Homes Act of 2009”~~
−
−	~~WHEN IN DOUBT CONSULT WITH UNDERWRITING!!~~

	== Instrument Requirements ==		== Instrument Requirements ==

@@ Line 3: / Line 3: @@
 *Reasonable search required by Statute.  No minimum period.
 *Marketable record title act is based on root of title at least 30 years back.
-*Short searches are customary.
 ==UPL==

@@ Line 95: / Line 95: @@
-== Foreclosure Exam ==
-TO BE ADDED
+Verify Legal Description in Mortgage vs LP:
 == Instrument Requirements ==

@@ Line 1: / Line 1: @@
 == Vesting==
@@ Line 2,523: / Line 2,537: @@
 .   Non-Tidal Sovereignty Lands -- those which were beneath navigable waters on March 3, 1845 -- continue to be owned by the State of Florida, Trustees of the Internal Improvement Trust Fund, even drained, filled and/or conveyed by the state without reference to the water body.
 Updated 8/26/14 by Alan B. Fields