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Source of Title Blog

Ohio's H.B. 201 Gets My Vote for Worst Bill of the Year
by Robert Franco | 2014/05/06

Yes, I know it is only May.  There is still a lot of time for our legislature to really do something stupid (and I'm sure they will), but I'm pretty confident that H.B. 201 will take the award for Worst Bill of the Year for 2014.  It seeks to greatly expand and codify equitable subrogation, which I have blogged about before. In 2010, I opined that Equitable Subrogation was an Over-used Remedy for Negligence and I applauded an Ohio Supreme Court decision that limited its applicability.  I was particularly pleased with the Court because more than a year earlier I questioned the lower court decision that applied equitable subrogation to bail out the negligent lender. 

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Categories: Abstractors, Huh?, Land Title Associations, Ohio Legislation, Small Agents, Title Industry

Source of Title Blog :: 0 comments ::

Affordable Care Act ("Obamacare") Allows Tax Credits to Eligible Small Employers
by Robert Franco | 2013/08/16

I wrote this blog for my law firm Web site.  However, seeing as many of us on Source of Title are small employers, I thought it would be good information to share here.  If you are an "eligible small business" you may qualify for a tax credit to help pay for your employees' health insurance.

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Categories: General Interest, Legislation

Source of Title Blog :: 0 comments ::

Shockingly Inadequate Argument in Foreclosure Appeal
by Robert Franco | 2013/07/17

Apparently, in the underlying foreclosure case the lender sought reformation to correct a typo in the legal description and the homeowner argued that the mistake was not "mutual," therefore the lender was not entitled to reformation and could not foreclose "due to an improper and incorrect legal description."  The trial court granted summary judgment to the lender and the homeowner appealed.

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Categories: General Interest

Source of Title Blog :: 3 comments ::

Is a Conveyance Fee Due on the Conveyance of an Easement in Ohio?
by Robert Franco | 2013/05/24

When a deed is recorded in Ohio, the Auditor's office normally charges a conveyance fee of $4.00 per thousand of the value of the property conveyed.  I was recently told that at least one Ohio County has been charging the conveyance fee at the time easements are recorded.  This has not been the normal practice, to the best of my knowledge, but that doesn't necessarily mean that it is not proper.  So, is the conveyance of an easement subject to the conveyance fee?

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Categories: Abstractors, Ohio Legislation, Public Officials, Title Industry

Source of Title Blog :: 0 comments ::

Why the cost of Closing Protection Coverage has increased in Ohio
by Robert Franco | 2013/05/02

Effective yesterday, the cost to consumers for closing protection coverage has increased by $5 for each covered party.  Public records obtained from the Ohio Department of Insurance show that the change was largely due to concerns that losses caused by defalcations are uncertain and closing instructions are evolving.  A Demotech report recommended the premium increase.

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Categories: Defalcations, Risk, Liability and Claims, Title Industry

Source of Title Blog :: 2 comments ::

More on Schwartzwald: Ohio Supreme Court Reverses Another Foreclosure
by Robert Franco | 2013/01/21

The Schwartzwald case held that a Plaintiff in a foreclosure case that does not hold the note or mortgage at the time it files the complaint lacks standing, and the court therefore lacks jurisdiction.  The big question that this left open was: what effect does that have on all of the faulty foreclosures that have already been completed?  We may now have some insight into this thanks to a case that was reversed and remanded just last month, Washington Mutual Bank v. Wallace.

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Categories: Foreclosures, Title Problems

Source of Title Blog :: 0 comments ::

Foreclosures in Ohio After Schwartzwald
by Robert Franco | 2012/12/31

On October 31, 2012, the Ohio Supreme Court decided Federal Home Loan Mortgage Corporation v. Schwartzwald, finally answering the question: Can the lack of standing or a real party in interest defect in a foreclosure be cured by the assignment of the mortgage prior to judgment?  Until Schwartzwald, there was a split on this issue among the courts of appeal.  According to the Ohio Supreme Court, "a lack of standing at the outset of litigation cannot be cured by receipt of an assignment of the claim or by substitution of the real party in interest."  What does this mean for the many foreclosures that have not followed this rule of law and what do title examiners need to look for when reviewing foreclosures in the chain of title?

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Categories: Abstractors, Foreclosures, Title Industry, Title Problems

Source of Title Blog :: 4 comments ::

10th Anniversary Retrospective
by Robert Franco | 2012/10/22

A couple of months ago, I noticed that Source of Title was approaching its 10th anniversary.  The very first company to register on Source of Title did so on September 30, 2002.  I still have a hard time believing that it has been 10 years already.  As such I thought I would spend a little time blogging about where we started, where we are, and how we got here.  Also, a few of the things we have done that worked out well... and a few that didn't.

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Categories: General Interest

Source of Title Blog :: 3 comments ::

NAILTA's 5th Annual Conference
by Robert Franco | 2012/08/16

The National Association of Independent Land Title Agents is having their 5th Annual Conference in Baltimore, MD, on September 30 - October 2, 2012.  If you are an independent agent, who has been impacted by affiliated business arrangements, you have probably asked yourself "why isn't somebody doing anything about this?"  Well, "somebody" is - NAILTA and several other state associations of independent title agents have been formed to represent people like you.  If you want to know more, go to the NAILTA conference and get involved.

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Categories: Land Title Associations, Small Agents, Title Industry

Source of Title Blog :: 3 comments ::

We Need New Policies or Laws for Computer Indexing
by Robert Franco | 2012/08/14

I had the pleasure of attending the Ohio Association of Independent Title Agent's conference yesterday.  The OAITA is a great organization and they provided some excellent discussion at this year's conference.  One particular speaker gave me an opportunity to ask a question that has been on my mind for quite some time; the speaker was Rick Campbell, President of the Ohio Recorders Association and Stark County Recorder.  I asked him if there was a state-wide policy of noting in the index when corrections were made.

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Categories: Abstractors, Ohio Legislation, Opportunities, Public Officials, Public Records

Source of Title Blog :: 0 comments ::

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Source of Title Blog

Robert A. FrancoThe focus of this blog will be on sharing my thoughts and concerns related to the small title agents and abstractors. The industry has changed dramatically over the past ten years and I believe that we are just seeing the beginning. As the evolution continues, what will become of the many small independent title professionals who have long been the cornerstone of the industry?

Robert A. Franco
SOURCE OF TITLE

 

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