Difference between revisions of "Closing Protection Letters in Alabama"
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===Overview=== | ===Overview=== | ||
| + | Closing Protections Letters, also called Settlement Protection Letters, are authorized to be issued in Alabama as part of single transactions only. They may be issued to borrowers, buyers, lenders, and sellers in a any transaction. They may be issued for agents who are handling title insurance transactions or agents who are only handling the escrow function of a given transaction. | ||
===Sources=== | ===Sources=== | ||
| + | The issuance of Closing Protections Letters is permitted under Section 27-3-6.1 of the Code of Alabama [https://law.justia.com/codes/alabama/2012/title-27/chapter-3/section-27-3-6.1/]. This code section also defines the contents of any CPL. | ||
===Compliance=== | ===Compliance=== | ||
| + | See Section 27-3-6.1 of the Code of Alabama for details concerning the contents and uses of a CPL in Alabama. | ||
===Forms=== | ===Forms=== | ||
| Line 23: | Line 26: | ||
===Notes=== | ===Notes=== | ||
* Notes: | * Notes: | ||
| − | * Rate Checked: | + | * Rate Checked: 5/6/2016 |
* By: ABF | * By: ABF | ||
* Manual Date: | * Manual Date: | ||
Revision as of 15:36, 6 April 2018
Contents
Overview
Closing Protections Letters, also called Settlement Protection Letters, are authorized to be issued in Alabama as part of single transactions only. They may be issued to borrowers, buyers, lenders, and sellers in a any transaction. They may be issued for agents who are handling title insurance transactions or agents who are only handling the escrow function of a given transaction.
Sources
The issuance of Closing Protections Letters is permitted under Section 27-3-6.1 of the Code of Alabama [1]. This code section also defines the contents of any CPL.
Compliance
See Section 27-3-6.1 of the Code of Alabama for details concerning the contents and uses of a CPL in Alabama.
Forms
- Latest CPL Form Filing Date: 01-26-2016
- Filing Requirements: Form & Rate to be filed
- Current From: 3172900
- ALTA Version: 2015
Dual Agent CPLs
Rates
- Buyer: $25.00
- Seller: $50.00
- Lender: $25.00
- Borrower: $25.00
Remittances
Notes
- Notes:
- Rate Checked: 5/6/2016
- By: ABF
- Manual Date:
