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What A Realtor Should Know About Divorce And Title Insurance

Wed, 01/24/2018 - 1:21pm

If you’ve ever received a title commitment back from your title company showing a requirement related to a divorce for your client you’ve likely wondered why there are additional requirements being made on your Schedule C. In order for a title company to rely on a client’s divorce decree, the decree itself must contain some very important language. If the decree is incomplete, a warranty deed from the ex-spouse can be required which often results in an unhappy experience for your clients. The article below discusses a few scenarios that can create delays in getting to closing.

Death and Selling Property

Thu, 12/14/2017 - 10:39am

When there has been a death in the chain of title, the transaction can be very complex. If not handled properly a realtor could find themselves with some serious issues. A realtor’s best bet is to have a general working knowledge of the issues and then partner with a title company that can handle the transactions properly.

Homestead

Mon, 10/09/2017 - 2:38pm

The Texas Constitution makes a requirement that before someone’s homestead be sold or borrowed against the owner and their spouse must consent to the transaction. A common misconception is that the spouse is required to sign because of the Texas community property rules. It is important to understand that it is not community property rules that require a spouse to consent at closing unless the property was acquired while the spouses were married. The proper explanation about why a spouse has to sign is because homestead protections provided for in the Texas Constitution require their signature. The two concepts are often present in a closing, and sometimes overlap in the end result to require a spouse to sign for closing, but they are separate and distinct laws.

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