Podcast
Questions and Answers
Non-attorney title agents in Florida do not have any legal and ethical duties during transactions.
Non-attorney title agents in Florida do not have any legal and ethical duties during transactions.
False
To issue a title commitment and policy, non-attorney title agents must perform primary title services as defined by Florida statutes.
To issue a title commitment and policy, non-attorney title agents must perform primary title services as defined by Florida statutes.
True
Evaluating the title search for insurability is an optional step for title agents.
Evaluating the title search for insurability is an optional step for title agents.
False
Primary title services include actions related to underwriting and determining policy coverage.
Primary title services include actions related to underwriting and determining policy coverage.
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In Florida, it is permissible for non-attorney title agents to perform any legal actions related to real estate transactions.
In Florida, it is permissible for non-attorney title agents to perform any legal actions related to real estate transactions.
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Sound underwriting practices involve ignoring state law and personal guidelines from your underwriter.
Sound underwriting practices involve ignoring state law and personal guidelines from your underwriter.
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Determining insurability requires knowledge of insuring provisions, including covered risks and exclusions.
Determining insurability requires knowledge of insuring provisions, including covered risks and exclusions.
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You are authorized to explain the meaning of insuring provisions if you are not an attorney.
You are authorized to explain the meaning of insuring provisions if you are not an attorney.
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You should prepare and issue the commitment policy after determining and clearing underwriting objections.
You should prepare and issue the commitment policy after determining and clearing underwriting objections.
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Providing legal advice is a required duty of someone performing primary title services.
Providing legal advice is a required duty of someone performing primary title services.
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Study Notes
Title and Closing Process for Non-Attorneys
- Focus on scenarios for non-attorney title agents
- Legal and ethical duties imposed by Florida law impact practices
- Key concepts: primary title services, unauthorized practice of law
- Title commitment and title policy duties are defined by contract and Florida statutes
- Duties involve title search, insurability determination, and exceptions review, issuing commitments and policies
- Sound underwriting practices and insurability determination are critical
- Coverages and exclusions must be understood
- Determining insurability, issuing commitments, and clearing objections are primary duties
- Reviewing deed transfers, exceptions in Schedule B2 are necessary
- Avoid expanding on provisions of coverages or exclusions
- Preparing deeds, mortgages, satisfactions, and completing other actions to fulfill commitment conditions
- Avoid legal documents like wills, trust agreements, or powers of attorney without explicit policies
- Don't prepare documents for properties not being insured or clear up clouds on properties without insurance
- Avoid preparing complex documents like wraparound mortgages or deeds reserving life estates
- Document preparation must follow contract instructions, and avoid acting outside of agreed-upon instructions
- Provide clarity & avoid misunderstandings by avoiding advice on title holding, particularly for spouses and co-ownerships
- Don't provide legal advice; refer customers to attorneys or tax advisors for additional help or clarification.
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Description
This quiz focuses on the essential processes and legal duties of non-attorney title agents in Florida. Participants will explore the primary title services, insurability determination, and key practices governed by Florida statutes. Understanding the responsibilities involved in title search, exceptions review, and issuing policies is critical for compliance and effective practices.
