CLTA eNews - October 2015 In This Issue
CLTA NEWS
SACRAMENTO REPORT
INDUSTRY NEWS
COURT CASES
Simplifile
CLTA NEWS
CLTA, together with CMBA, is pleased to offer: TILA/RESPA Integrated Disclosures, Part 2: Implementation, a 1.5-hour live webinar delivered to your desktop on Tuesday, November 10, 2015 from 1:30pm - 3:00pm. Participants requesting MCLE or PD will receive 1.5 CE credit for participating in the webinar. ...
 
SACRAMENTO REPORT
Governor Brown signed CLTA sponsored legislation, Assembly Bill 704 (Cooley), to rewrite the law on the requirements for underwritten title companies (UTCs) conducting escrows. The existing law will be repealed on July 1, 2016 and replaced with a new law permitting bonds in lieu of cash deposits. ...
 
News Express:  Bulletin 15/16-27, September 23, 2015
Legislation creating a non-probate method for conveying interest in real property upon death, Assembly Bill 139, has been signed into law by Governor Brown. The new law ...
 
The day before a deadline that would have seen any bills yet to be acted on by the Governor go into law, Governor Brown vetoed a number of bills that would have created or expanded an existing tax credit. Among the bills ...
 
The first year of the 2015-16 legislative session has come to a close in Sacramento. Legislators introduced approximately 2,700 bills into the legislature in 2015, with Democrats introducing over two bills for every one introduced by Republicans. CLTA closely monitored ...
 
State revenues fell short of projections by 2.6 percent in September, but are still outpacing estimates for the first quarter of the 2015-16 fiscal year, according to State Controller Betty T. Yee.  ...
 
Data Trace Union Bank
INDUSTRY NEWS
Last week, CFPB Director Richard Cordray sent a letter to a group of industry trade associations in the mortgage and real estate industry, stating that "during initial examinations for compliance with the Rule, the agencies' examiners will ..." 
 
The CFPB recently issued a bulletin concerning marketing services agreements under the Real Estate Settlement Procedures Act (RESPA). The bulletin points out that while MSAs may be framed as payments for advertising or ...
 
The State Board of Equalization announced a project to amend Property Tax Rule 462.040, Change in Ownership—Joint Tenancies, in response to a request from the California Assessors' Association. Interested parties were asked to submit comments regarding the proposed amendments. ...
 
ALTA presented its 2015-16 ALTA Board of Governors. Noteworthy for California, John Hollenbeck, First American Title Insurance Company (Santa Ana) was elected ALTA Board President and Bill Burding, Orange Coast Title Company (Santa Ana) was elected as the Board Agents Section Representative and appointed to the Abstracters and Title Insurance Agents Executive Committee for a one-year term. A big congratulations to both.   END
 
News Express:  Bulletin 15/16-29, October 1, 2015
California Insurance Commissioner Dave Jones, a Sacramento Democrat, announced Thursday that he intends to run for state attorney general in 2018. ...
 
COURT CASES
In First American Title Ins. Co. v. Spanish Inn, Inc. (2015) 239 Cal.App.4th 598, the court of appeal affirmed summary adjudication in favor of a title insurer seeking indemnity from a developer under a mechanic's lien indemnity agreement.  Spanish Inn's lender required ...
 
Scher v. Burke (B235892)
In the published portion of the opinion, the court held that plaintiffs could not establish an implied dedication of a road because Civil Code Section 1009(b) bars all use of private real property after March 1972, not just recreational use, from ...
 
Save Mount Diablo v. Contra Costa County (A142357)
The court held that a "division" of property within the meaning of the Subdivision Map Act does not occur simply because an eminent domain proceeding results in a physical separation of a property's non-condemned portions. The owner of such a property ...
 
 

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