AL Underwriting Summary
From WFG Wiki
Contents
Search/Exam
- Minimum Search Requirements No statute
- Plant or other search restrictions No
- Additional Requirements for REO Searches No
- Foreclosure Checklist N/A
- Special Searches Required (Code, HOA, Utilities)? None
- Survey Requirements
- Purchase – not on platted residential
- Refinance – not required
UPL
UPL Hot Button Issues No
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 20 years
- Mechanics Liens 6 months
- Financing Statements 5 years
- Mortgages
- HOA Liens
- Condominium assessments
