Homestead and the Spousal Joinder Requirement
General rule: joinder of a non-titled spouse is required Where an owner of homestead property is married and living with a spouse, a conveyance, mortgage,…
Category: News
Doing Muniment of Title Right
Republished with permission of Chancellor Lawrence Primeaux. MCA § 91-5-35 allows you to admit a will to probate as a muniment of title only (muniment…
1031 Exchange: Holding Period Requirements
How long must property be held for investment in a 1031 tax-deferred exchange? This is one of the most commonly asked questions in an exchange…
Filing Fees for Recording Documents Set to Increase Statewide
Filing fees in Mississippi’s chancery clerk’s offices are going up for the first time in more than 15 years! In 1993, the fee for recording…
Digital Closings: Where are we headed?
“eClose” or “Digital Close” have been buzz words for a number of years in our industry. However, it wasn’t until the last few years that…
GAP Act: Guardianship of a Minor, Part II
Republished with permission of Chancellor Lawrence Primeaux. Continuing with the GAP Act summary. Section numbers correspond to SB 2828. Duties of guardian for a minor…
GAP Act: Guardianship of a minor, Part I
Republished with permission of Chancellor Lawrence Primeaux. Continuing with our look at the GAP Act. Section numbers correspond to SB 2828. Basis (201): A person…
Member Highlight – Agent: Mark Bond
Mark Bond, a partner in the Gulfport office of Balch & Bingham LLP, was well prepared for the practice of real estate law by his…
Landlord and Principals Liable for Tenant Selling Counterfeit Goods
Luxottica Group, S.P.A. v. Airport Mini Mall, LLC, 932 F.3d 1303 (11th Cir. 2019). Luxottica Group manufactures and holds registered trademarks to luxury goods, including…
Appurtenant Easement Extinguished in Servient Owner’s Bankruptcy
Sherwin Alumina Co., L.L.C. v. Port of Corpus Christi Authority (In re Sherwin Alumina Company, L.L.C.), United States Court of Appeals for the Fifth Circuit…
1031 Exchange: Exchange Documentation and Procedures
To meet the requirements of the Qualified Intermediary (QI) safe harbor, there must be a written exchange agreement between the Taxpayer and the QI. The…
Member Highlight – Agent: Mason Wood
A lifelong resident of Laurel, Mason Wood returned home after being admitted to the Mississippi Bar to begin his legal practice with Caves & Caves,…
GAP Act: Guardianship of an Adult, Part I
Republished with permission of Chancellor Lawrence Primeaux. Continuing with an overview of the GAP Act. Section numbers correspond to SB 2828. Basis for appointment (301):…
It’s All in the Name [Christiana Trust v. Ciota]
Christopher B. Schultz and his wife, Megan A. Ciota, acquired title to certain real property by warranty deed from DDD Properties LLC. The deed listed…
Digital IDs as Legal Form of Identification
Beginning Dec. 1, 2019, digital identifications such as driver’s licenses and non-driver IDs will be valid forms of identification in Colorado. This change is the…
MISMO Releases ALTA-Supported Closing Instructions Templates
The Mortgage Industry Standards Maintenance Organization (“MISMO“) issued new templates for closing instructions on October 18, 2019. The new templates are the result efforts by…
1031 Exchange: Cooperation Clauses
To create a valid 1031 exchange, the taxpayer must assign his rights under the purchase and sale agreement to First American Exchange. In addition, the…
Beware of Transactions Involving Church Property
The organization of churches takes many different forms. Sales, leases, and mortgages of church property must be properly authorized. Generally, a congregational church may authorize…
Member Highlight – Underwriter: Jeff Lees
Jeff Lees started out early in the title business, working as a runner for a closing lawyer during his junior year in high school. He…
1031 Exchange: Disqualified Parties
Persons or entities that are agents of the taxpayer at the time of the transaction are disqualified from acting as a Qualified Intermediary (QI). §…