WY Underwriting Summary
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Revision as of 10:02, 10 May 2021 by Ambersowell (talk | contribs)
Contents
Search/Exam
- No state law minimum period of time for a search.
UPL
- Title insurer or agent may engage in the escrow, settlement or closing business provided that funds deposited in connection with any escrow are deposited separately. Wyo. Stat. §26-23-314.
- No title insurance within the state may be issued unless based upon adequate evidence of the current condition of title, certified in writing, as of the date of the policy by either (1) an authorized abstractor with a complete set of abstract records of title of all real estate in the county or (2) an attorney authorized to practice in Wyoming provides an opinion as to the condition of the title following a review of the pertinent title records or abstracts. See Wyo. Stat. §26-23-308 and §33-2-101.
Vesting
Property Tax
Mortgage/Transfer Tax
- No Mortgage tax in Wyoming
- No transfer tax in Wyoming
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 5 years
- Federal Tax Liens 10 years (+30 days); can be refiled
- Estate Tax Lien Federal 10 years
- Mechanics/Construction lien must be filed within 120(subcontractors, laborers, etc.) or 150 (original contractor) days of completion of work of filing Ntc of Substantial Completion / Action to foreclose must commence in 180 days following filing of lien. W.S. 29-2-106 & 29-2-109
- Extensions cannot exceed twice the time within which the lien would have to be filed (i.e. 300 days contractor and 240 days all others).
