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Source of Title Blog

Confirmed... The Ohio Good Funds Law is Harming Consumers
by Robert Franco | 2017/05/17

A few days ago I wrote a blog about wire fraud.  I commented that those responsible for the change in our good funds law were at least partially to blame for innocent consumers getting conned out of their life savings.  Well, yesterday a local ABC news station has confirmed that I was right.

[read more...]

Categories: Crime, Ohio Legislation

Source of Title Blog :: 3 comments ::

Email Fraud in Real Estate Transactions is on the Rise
by Robert Franco | 2017/05/14

A scheme that targets real estate transactions can be devastating to potential homebuyers.  Such scams are on the rise and changes intended to protect settlement professionals may have made matters worse for many innocent, unsuspecting consumers.

[read more...]

Categories: Crime, Escrow/Funding, Legislation, Ohio Legislation, Risk, Liability and Claims, Title Industry

Source of Title Blog :: 1 comments ::

The Ohio House Sneaks a Massive Recording Fee Increase into the New Budget Bill
by Robert Franco | 2017/04/25

It was kept relatively quiet, though rumors have been circulating for a few weeks. Today the Ohio House of Representatives introduced a substitute budget bill that includes a massive increase in recording fees. Some documents will cost more than double if this version of the budget passes.  

[read more...]

Categories: Ohio Legislation, Public Records, Title Industry

Source of Title Blog :: 0 comments ::

Is Notice by Certified Mail Worth the Cost?
by Robert Franco | 2017/04/03

Certified mail is the most common form of notice required by law. It is intended to provide some assurance that notice is actually provided by getting the recipients signature acknowledging receipt.  But, is it really all that effective? More importantly, is it really worth the cost?  The Ohio legislature seems to believe that there is a better way to provide notice in some circumstances.

[read more...]

Categories: Ohio Legislation

Source of Title Blog :: 1 comments ::

Ohio House Bill Introduced to Regulate Solicitation of Deeds
by Robert Franco | 2017/03/22

The "Deed Scam" was discussed here on Source of Title more than a decade ago, and it hasn't gone away.  It refers to the official looking letter that warns you that you need a certified copy of your deed and then offers to get it for you... for $70.00, or more.  Considering I can get a certified copy for about $6.00 at the court house, I have always felt that this was nothing but a scam.  And, I'm not alone. 

[read more...]

Categories: Consumer Advocacy, Crime, Ohio Legislation

Source of Title Blog :: 3 comments ::

In God We Trust... Everyone Else Gotta Pay by Wire Transfer
by Robert Franco | 2017/03/12

In Ohio, the new Good Funds Law that goes into effect on April 6, 2017, will require any funds over $1,000 be provided by wire transfer for all residential closings.  Cash and cashier's checks for amounts over $1,000 will no longer be accepted.  

[read more...]

Categories: Escrow/Funding, Ohio Legislation

Source of Title Blog :: 1 comments ::

Michigan Abolished Dower
by Robert Franco | 2017/02/01

Michigan's dower statute has been on the books for more than 170 years.  Only a handful of states recognize dower rights, and the number is shrinking.  Interestingly, in Michigan the legislature finally took the steps to get rid of it because it would have needed to be revised in light of Obergefell v. Hodges (legalizing gay marriages).  

[read more...]

Categories: Michigan Legislation

Source of Title Blog :: 3 comments ::

A New Curative Statute is Working its Way Through the Ohio Legislature
by Robert Franco | 2016/08/28

Ohio currently has a statute that cures certain defects in recorded instruments when they have been of record for more than 21 years.  Defects that can be cured include improper witnessing and missing or defective acknowledgements.  Senate Bill 257, if it passes, will broaden the application of the statute and shorten the time it takes for the cure to take effect. 

[read more...]

Categories: Ohio Legislation

Source of Title Blog :: 2 comments ::

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 ::

< < Get older blog entriesGet newer blog entries > >
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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Recent Comments

When the closing was set, the title company should have transmitted wire instructions on a company f...
by James Newberry
I understand each jurisdiction has varying practices, but why would the real estate licensee be the ...
by Patrick Miller
Robert -  I am in agreement with you that there is no perfect solution for funds brought ...
by Michael Solt
See an update on this topic, "Confirmed... the Ohio Good Funds Law is Harming Consumers." ...
by Robert Franco
Hi Clanci,Thank you for asking. I'd be honored if you would, and if it helps anyone avoid paying $83...
by Robert Franco
Hi Robert.  I have gotten those letters too.  Very "official" looking.  Since I have ...
by Clanci Nelson
My wife and I bought a house in December and this week we received a very official looking letter of...
by Robert Franco
it is my understanding that many situations under federal law require notice by registered mail in o...
by William Pattison
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