Difference between revisions of "NM Underwriting Summary"
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Revision as of 15:34, 23 August 2016
Contents
Search/Exam
UPL
Title insurance agents provide complete service on all aspects of escrow and title in the closing of a real estate transaction. No state law requires the involvement of an attorney. Attorneys are rarely involved in a typical residential transaction. Some agents use attorneys to prepare legal documents for a closing. Attorneys are frequently retained to represent the parties in a commercial transaction.
Vesting
Witness Requirements
Mortgage/Transfer Tax
Spousal Joinder Requirements/Homestead
Power Of Attorney
Construction Liens
Foreclosure Review
Instrument Requirements
Certificates of Release
Title insurance underwriters (not agents) have the authority pursuant to state statute to execute and record releases of mortgages or deeds of trust subsequent to a 90-day period after payment in full of the mortgage or deed of trust and upon 10-day prior written notice to the lender. See Section 48-7-4.1 NMSA 1978.
