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RIPARIAN AND OTHER WATER ISSUES IN TITLE Riparian Rights come from the English Common Law under which the Sovereign retains title to lands now or formerly flowed by the ebb and tide. New Jersey takes the position a it has title to all such properties, with the exception of land is has conveyed by riparian grant. In order to establish its claim maps were prepared and filed in the County Clerk’s Offices back in the late 70s and early 80s. These maps are in two parts, a photo of the area in question, an overlay showing the State’s Claim and a second overlay showing what was granted. I must be remembered that this is a claim of ownership that supersedes the record ownership of the subject property and goes to the marketability of said property. It has become the standard practice to have a search for tidelands in an area of concern by a company that handles this type of search (i. e. Signature Information aka Charles Jones). The Company will determine if the subject premises under review is affected by a riparian claim and if so was a grant given. It is conceivable that the validity of a claim can be attacked in a quiet title action, but the burden of proof would be enormous. The only practical way a riparian claim can be removed is if the State would agree to issue a Certificate on Non Interest or the acceptance by the State of a Riparian Grant Application with payment of the required amount, with the issuance and recording of the Riparian Grant, which is a long process. A full treatment of this subject can be obtained in the online course offered by LearnTitle at www.njmcleonline.com. “Riparian and Other Water Issues in Title” has been approved for continuing legal education. |
RECORDING FEE CHANGE The following counties have created the Trust Fund and are adding the surcharge to the recordings: Bergen, Hudson, Mercer, Middlesex, Passaic, Somerset, Union and as of May 1, 2011, Camden County. A helpful “County Recording Fee Calculator” can be found on our website at www.etsnj.com/services. Online Ordering for Title Insurance
Recommendations |
Website: www.etsnj.comOur website continues to mature as a resource for Real Estate Professionals. Elite’s site is current with today’s trends… forms, online ordering, blog, and calculators for NJ Title Insurance Rates, Recording Fees, and Transfer Tax Calculator. Take a look around…you might find some things you need.
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Guidelines for Today’s Real Estate Transactions Mortgage Payoff of Mortgages in Foreclosure |
| Do You Need Legal Continuing Ed Credits? njmcleonline.com is a continuing legal education provider approved by the New Jersey Supreme Court Board on Continuing Legal Education. Courses offered specialize in Real Estate law. Njmcleonline is a division of Learntitle.com, LLC which provides continuing education courses for title insurance agents in New Jersey. Philip S. Noce, Esq. of Elite Title Services has been instrumental in developing these courses. As an introduction, please register at www.njmcleonline.com and enroll in a course using the coupon code ET1210. The coupon code is good for 50% off the price of enrollment in any course. |
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As you all probably know, the various county recording offices have been converting to computerized records. All counties (the last being Bergen) now scan the documents you send for recording. The concept of a “Book” no longer exists, the document being stored on the computer system and is only available to be viewed on a computer screen. Some counties, such as Hudson and Middlesex still reflect the documents as being in “Deed Books, Mortgage Book’s etc.” where as others, such and Bergen and Monmouth use one combined Book Reference. All indexing is done in a unified index. This is necessary as there is no longer a physical document where such things as mortgage assignments and cancellations can be noted. All the counties have been back scanning exiting records to some extent to save space and warehousing the original books in another location. I started searching in Hudson County back in 1972 when none of this stuff was even a dream. I can tell you that in using the computing systems the searching process has been made easier, but the old hand written indices were more reliable. These computer systems are programmed by computer people not title people. It is important that all documents be proofread prior to sending them for recording. Any misspelling would result in the document not being reflected in the computer index. A searcher is obligated to search the “in title name” of the party or parties in title. A document which does not correspond to the “in title name” may not come up on a search. Such documents, even though they are recorded, do not constitute constructive notice to a third party and are , in effect, unrecorded. Therefore, please be sure you documents are correct prior to recording. Phil Elite Title Services is on Facebook,
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Computer Tip - Email ServiceThere are times when it seems we abruptly stop recieving emails. Often times our mailbox is full. There are a couple of ways to fix the problem. 1. If your email is being hosted by the same company that host your domain, i.e. if you email is myname@mysite.com, then you should be able to log into your mail server and empty your mailbox or delete old emails. 2. If your email is being hosted by a public server such as gmail, yahoo, or aol, then you should be able to log into your account and delete old emails. In either case, if this is happening a lot, then you should be able to increase the size of you mailbox so that it holds moer emails before it gets full. You should also be able to set the amount of time an email stays on the server before it gets deleted. Depending on where your email is hosted, you may be albe to have unlimited space for emails. In the title business, large emails with big attachments are commonplace so you want an email provider that can accomodate your needs. If you have questions, give me a call at 551-404-5341 or send me an email at admin@yourcyberpresence.com. |
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Settlement Work for Clients
Elite Title can provide settlement services for customers so that you can spend your time doing what you do best to make your business work for you. You decide what level of service you want. We can help with the preparation of the HUD-1, securing payoffs, communicating with lenders, or any other function in the settlement process so that you can be confident your closing will be a smooth one. Our goal in doing so has always been to better serve our customers. If you have questions about the new forms give us a call, and we will be happy to assist you.
Title Insurance Information Books
Elite has been handing out to our clients info books with such things as title application forms, realty transfer tax tables, title insurance tables, recording information, etc. If you have not received one, please send us a fax (201-596-2869) or email (title@etsnj.com) we’d be happy to drop one by.
Email: title@etsnj.com
Elite has really tried to go paperless as much as possible, therefore all files are now “virtual files”. We do have “paper files” for the odd document, but once a matter is finished (policy out), the paper file is sent to the shredder. It hasn’t been easy to convert files and our brains to use the computer to this extent…but it has saved, time, money..and a few trees here and there. J
Online Ordering for Title Insurance
At www.etsnj.com go to “Place Order” page. If you have not registered, click on ‘first time users please Register’. Fill in all your firm information and click Submit. In the future, when using the Online Order form, your email will be the login, and your firm information will show up on the online application. Once you’ve filled in the form, print the form for your records and then click Submit. You’ll have a copy for your records, and Elite will have a clear, readable application.
Elite Title Talk, our Blog on www.etsnj.com
Short Sales, Foreclosures, Depressed Market, as well as the whole new way of preparing RESPA Settlement Statements ....not a pretty picture. Our
blog and Facebook Page have addressed these issues, along with our personal interest of Social Networking.
Recommendations
One thing we all can use..not just in today’s market..but every day. A good recommendation from one business ‘partner’ to another. Elite would greatly appreciate your spreading the word about our service and expertise.
Website: www.etsnj.com
Our website continues to mature as a resource for Real Estate Professionals. Elite’s site is current with today’s trends… forms, online ordering, blog, and calculators for NJ Title Insurance Rates, Recording Fees, and Transfer Tax Calculator. Take a look around…you might find some things you need.
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Elite…great at putting out fires!
Latest Underwriting Guidelines
Old Republic N.T.I.
The title reveals a lis pendens relating to an action to foreclose a mortgage. The foreclosure action has not yet gone to final judgment however the foreclosing lender has provided an Order approving a sale of the premises “pendente lite" (which in this case signifies “pending foreclosure”). Can we insure this?
Yes. Under New Jersey law (NJSA 2A:50-31) where mortgaged property is of such a character or so situated as to make it likely to deteriorate in value or to make its care or preservation difficult or expensive, the foreclosing lender may obtain an order in the pending foreclosure action to sell the property before entry of the final judgment of foreclosure. The sale may be public or private as the court orders. If public, a sheriff’s sale will be held. Upon sale, the proceeds are brought into court where they are held until further order or judgment of the court.
From an underwriting standpoint, examination of these titles is little different from any other title deriving through a mortgage foreclosure action. In addition to the usual Chancery review (confirmation that the proper parties have been joined, served with process, etc.) and typical mortgage foreclosure-related requirements and exceptions, the title examiner must also confirm that each party to the foreclosure action has received service of the application for sale pendente lite (pending foreclosure) and that any objection(s) to the application have been disposed of. The sale must be conducted in strict conformity with the court order approving the sale. Once the sale occurs it will cut off all lienholders who are parties to the foreclosure action just like a “normal” foreclosure sale.
These orders are appealable. Any title commitment issued during the 10 day appeal period (measured from the entry of the order) must take exception to the possibility of an appeal.
| Please be advised that the New Jersey Division of Taxation has revised the GIT/REP 1, 2 and 3 forms. The most current forms bear a revision date of 6/10 and can be accessed on line at Elite's website: www.etsnj.com/forms.htm |
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The revision relates to those situations where the form is to be executed by an attorney in fact. You will recall that previously, Taxation required that a copy of the Power of Attorney be attached to the GIT/REP form regardless of whether or not the Power of Attorney was already recorded or about to be recorded. Now, if the Power of Attorney is already recorded or will be recorded with the deed, an additional copy of the Power of Attorney does not have to be attached to the GIT/REP form provided you check the following box which has been added to the Seller(s) Declaration at the bottom of the forms:
“By checking this box ? I certify that the Power of Attorney to represent the seller(s) has been previously recorded or is being recorded simultaneously with the deed to which this form is attached.”
It is important that the box be checked in every applicable case.
Note that this modification does not change the fact that although a seller may give a representative authority to sign a GIT/REP form on his/her behalf by a letter, that letter could not be the basis for execution of a deed. A recorded, formal POA would still be required.
The purchase money lender on my transaction will accept the “No Survey - Survey Endorsement”. Can an endorsement be issued on a purchase?
There is no prohibition on issuing the so-called “No Survey – Survey Endorsement” (Lenders Survey Endorsement – Without Survey = Sec. 10.15 of Rate Manual) for a purchase money lender on a residential purchase HOWEVER in order to do so, the purchaser must specifically acknowledge in writing that he/she/they will not be receiving survey coverage.
This acknowledgement should confirm that the purchaser understands that survey coverage in the form of a Lenders Survey Endorsement – Without Survey will be issued to their lender but that such coverage cannot and will not be extended to them. It should also affirm that they understand that they could obtain survey coverage for the same $25.00 endorsement charge by providing an acceptable survey to us but that they have chosen not to do so. The following would certainly be acceptable:
I acknowledge that I am paying $25.00 as part of my title insurance charges to obtain survey coverage for my lender in their title insurance policy but that I will not be afforded any survey coverage in my owners title insurance policy. I understand that if I provide the title insurance company with a survey acceptable to them I could also obtain survey coverage in my title insurance policy at no additional cost but have chosen not to do so.
The acknowledgement can be included in the affidavit of title or set forth in a separate writing signed by the purchaser(s). If it is included in the purchasers’ affidavit of title, he/she/they should specifically place their initials or signature next to the statement waiving the coverage in addition to signing the affidavit in due course.
The proposed insured lender is insisting that I issue an ALTA 1-06. I thought that that endorsement was withdrawn. What should I do?
Contrary to local “title-lore”, the ALTA 1 endorsement, commonly known as the “Street Assessment Endorsement”, was not withdrawn when the 2006 ALTA forms were approved in 2007.
Rather, the 2006 version of the endorsement was adopted (the ALTA 1-06) but the $25.00 charge for the endorsement was eliminated.
The ALTA 2006 form of loan policy provides similar coverage to the ALTA 1-06 in Covered Risk 11(b) where it provides coverage over
11. The lack of priority of the lien of the Insured Mortgage upon the Title… (b) over the lien of any assessments for street improvements under construction or completed at Date of Policy.
Many lenders, however, prefer to also have an ALTA 1-06 endorsement issued with their policy. This is absolutely acceptable however you may no longer charge for issuance of this endorsement.
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It’s Been 20 YearsIt’s hard to believe that 20 years has gone by since Sandy and I started Elite Title back in June 1990 in our basement in River Edge. We want to thank you for your support and business over this time. During these years office technology has radically changed the way things are done, and we have made a concerted effort to keep with the current trends. Even though we’re not using the typewriter for 5-part policies, the principles of Real Estate Law have not changed in any dramatic fashion. We take pride in the fact that all our title reviews are based on the solid knowledge of Real Estate Law, thereby allowing you to successfully complete your transactions without unnecessary complications. Phil |
Recording Fee ChangesIn 2009 the State Legislature enacted a statute, P.L. 2009, Chapter 123 (N.J.S.A. 52:27D-287b et al). Under this statute each county is authorized to create a County Homeless Trust Fund. In order to finance this fund, each county can collect a surcharge of $3.00 per recorded document (not per page) on deeds, mortgages, tax sale certificates, etc. It does not apply to filed documents such as a UCC Financing Statement.The following counties have created the Trust Fund and are adding the surcharge to the recordings: Bergen (2/2010), Hudson (3/2010), Mercer (7/2010), Middlesex (1/2010), Passaic (1/2010), Somerset (6/2010), and Union (5/2010). |
Need help with RESPA?The staff at Elite Title has spent significant resources to become proficient in the new RESPA reform. Our goal in doing so has always been to better serve our customers. If you have questions about the new forms give us a call, and we will be happy to assist you. If you would prefer not to spend the time it takes to understand the new forms, we can help with that too. Let us prepare the forms for you. Elite Title can provide settlement services for customers so that you can spend your time doing what you do best to make your business work for you. You decide what level of service you want. We can help with the preparation of the HUD-1, securing payoffs, communicating with lenders, or any other function in the settlement process so that you can be confident your closing will be a smooth one. |
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Elite Title Services is on Facebook, Twitter, LinkedIn. Follow us!Join us on your favorite social media platform. Elite now has accounts on Facebook, Twitter, and LinkedIn. Whatever your preference, you can follow us and keep up with new information from RESPA, new FAQs, news from ALTA, and more useful information from Elite Title. Need help in setting up an account? Call us. |
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Recently we updated our website www.etsnj.com |
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New Fax Number: 201-596-2869We have decided to go the route of computer based faxing. Our regular fax is antiquated..doesn’t really work to well..so out with the old..in with the new. This will have no bearing on your end. Just send and receive faxes as you have in the past, just change Elite’s fax number to 201-596-2869. |
Online Ordering for Title InsuranceAt www.etsnj.com go to “Place Order” page. If you have not registered, click on ‘first time users please Register’. Fill in all your firm information and click Submit. In the future, when using the Online Order form, your email will be the login, and your firm information will show up on the online application. Once you’ve filled in the form, print the form for your records and then click Submit. You’ll have a copy for your records, and Elite will have a clear, readable application. |
Elite Title Talk, our Blog on www.etsnj.comShort Sales, Foreclosures, Depressed Market, as well as the whole new way of preparing RESPA Settlement Statements ....not a pretty picture. Our blog and Facebook Page have addressed these issues, along with our personal interest of Social Networking. There’s also a piece on “Top Real Estate Movies”. Can you name a few? |
Real Estate MoviesBlazing Saddles - Hedley Lamar and his henchman try to steal the land of Rock Ridge for a new railroad. The funniest real estate transaction ever filmed! "Unfortunately there is one thing standing between me and that property - the rightful owners." That's what Title Insurance is for! |
Guest AuthorsDo you blog? Want to add something to Elite Title Talk? Let us know…we’d be happy to set you up with the log in credentials to that you can add your ‘professional’ opinions to our site. |
Settlement Work for ClientsIf you would prefer not to spend the time it takes to understand the new forms, we can help with that too. Let us prepare the forms for you. Elite Title can provide settlement services for customers so that you can spend your time doing what you do best to make your business work for you. You decide what level of service you want. We can help with the preparation of the HUD-1, securing payoffs, communicating with lenders, or any other function in the settlement process so that you can be confident your closing will be a smooth one. |
Title Insurance Information BooksElite has been handing out to our clients info books with such things as title application forms, realty transfer tax tables, title insurance tables, recording information, etc. If you have not received one, please send us a fax or email…we’d be happy to drop one by. |
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RecommendationsOne thing we all can use..not just in today’s market..but every day. A good recommendation from one business ‘partner’ to another. Elite would greatly appreciate your spreading the word about our service and expertise. |
Latest Underwriting GuidelinesOld Republic N.T.I. |
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The owner of a residential apartment building is refinancing. The new mortgagee wants us to affirmatively insure that the insured mortgage has priority over all of the tenants’ interests under their leases. What language can we give? In 1994, the New Jersey Supreme Court held that a foreclosing mortgagee could not evict a residential tenant from a property to which the mortgagee had acquired title through foreclosure without complying with the Anti-Eviction Act of 1986 (N.J.S.A. 2A:18-61.1 et seq.). This decision applied “irrespective of whether the tenancy was established before or after execution of the mortgage.” (Chase Manhattan Bank v. Josephson, 135 NJ 209, 1994) |
Title is vested in two unrelated people as tenants in common. They subsequently marry. Does the tenancy in common automatically convert into a tenancy by the entirety? No. N.J.S.A. 46:3-17.2 states, “A tenancy by the entirety shall be created when … a husband and wife together take title to an interest in real property … under a written instrument designating both of their names as husband and wife …” The key statutory requirement to create a tenancy by the entirety is that the grantees be “husband and wife” (or a civil union couple) at the time they take title. (There is case law that indicates that a tenancy by the entirety is created when a married couple takes title even if the deed does not on its face identify them as “husband and wife” or “married”, but that is not relevant to the present inquiry.) |
************************************************************************************************************************************ September 2009 |
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New Fax Number: 201-596-2869We have decided to go the route of computer based faxing. Our regular fax is antiquated..doesn’t really work to well..so out with the old..in with the new. This will have no bearing on your end. Just send and receive faxes as you have in the past, just change Elite’s fax number to 201-596-2869. |
Online Ordering for Title InsuranceAt www.etsnj.com go to “Place Order” page. If you have not registered, click on ‘first time users please Register’. Fill in all your firm information and click Submit. In the future, when using the Online Order form, your email will be the login, and your firm information will show up on the online application. Once you’ve filled in the application form, click Print then click Submit. You’ll have a copy for your records, and Elite will have a clear, readable application. |
Email title@etsnj.comIn 2009 Elite has really tried to go paperless as much as possible, therefore all files are now “virtual files”. We do have “paper files” for the odd document, but once a matter is finished (policy out), the paper file is sent to the shredder. It hasn’t been easy to convert files and our brains to use the computer to this extent…but it has saved, time, money..and a few trees here and there. |
Title Insurance Information BooksElite has been handing out to our clients info books with such things as title application forms, realty transfer tax tables, title insurance tables, recording information, etc. If you have not received one, please send us a fax or email…we’d be happy to drop one by. |
Recently we updated our website www.etsnj.comElite has a new site that is current with today’s trends…flash page opener, adobe forms, online ordering, blog, etc. Take a look around…you might find some things you need. Of course any suggestions you might have, are always welcome |
Elite Title Talk, our Blog on www.etsnj.comThere are certainly a lot of topics to write about in this market. Our blogging started with the topic of “Foreclosure Rescue Scams and Loan Modification Fraud”. The Obama Administration’s “Making Home Affordable Program” has definite possibilities for helping the consumer…now if only the lenders would wake-up and participate. Perhaps then we’d all be a bit busier. Do you blog? Want to add something to Elite Title Talk? Let us know…we’d be happy to add your ‘professional’ opinions to our site. |
RecommendationsOne thing we all can use..not just in today’s market..but every day. A good recommendation from one business ‘partner’ to another. Elite would greatly appreciate your spreading the word about our service and expertise. |
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Hudson County Register’s Office |
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| After more than 50 years being located in the Hudson County Court House, the Register and it’s Record Room have moved to a new location. The most prominent innovation is computerization of all records dating back to 1962. The physical books prior to this date are accessible in the record room. The county block index are retained, but are no longer updated. The | Record Room for the Hudson County Clerk has also been located to this building, being on the 4th Floor. Unfortunately, the Office and Record Room for the Hudson County Surrogate remain at the Court House. Hudson County Register 201-395-4760 |
Bulletin of the Month: |
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As per Nancy Koch, Esq., NJ State Counsel for Old Republic National Title Insurance Company, please be advised that Governor Corzine recently signed into law an amendment to the Fair Foreclosure Act which establishes a statute of limitations for certain mortgage foreclosures. Enacted as P.L. 2009, c. 105, this law was effective August 6, 2009. As a reminder, a statute of limitations is a law which sets the time in which a lawsuit may be filed. (There are different statutes of limitations for different actions or charges and they apply to both criminal and civil matters.) If the limitations period set by the statute expires without a lawsuit or charges being filed, such suit or charges may no longer be filed. You will recall that prior to this enactment, New Jersey did not have a codified statute of limitations specifically applicable to mortgage foreclosure actions. Courts in New Jersey had generally applied a 20 year limitation period to mortgage foreclosure actions meaning that a lender had to institute a foreclosure action within 20 years from the date of default or be barred from instituting the foreclosure action. It is important to note that the limitations periods established by this law apply only to residential mortgages which are defined in the Fair Foreclosure Act as mortgages on owner-occupied one-to-four family houses or condominium units. |
The new law provides that an action to foreclose a residential mortgage shall not be commenced once the earliest of the following time periods have expired:
While the Inter-Underwriter Indemnification Agreement continues to allow insuring without exception to many prior owner mortgages, the enactment of this law will allow title insurers to insure without exception to some mortgages where the Agreement may not apply. |
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