January 19, 2005
 

Dear TLTA Member:

As you know, TLTA submitted proposed revisions to Procedural Rule P-53 during the recent TDI Rule Hearing. Several other proposed amendments to P-53 were submitted by other parties including the Title Professionals Association, Texas Association of Realtors and Texas Association of Builders. While there were many similarities in these revisions, there were still differences that needed to be worked out. In early January, a meeting was held by the interested parties in an attempt to draft a revision that would address most of the concerns and be acceptable to everyone concerned.

We have attached a new proposed P-53 that is a result of that meeting. Also attached is a summary, prepared by TLTA Counsel Tom Rutledge, of the differences in the current rule and proposed revision. The TLTA Board of Directors will meet by conference call on Monday, January 24^th to discuss and vote on this proposal.  Please review it and provide us with any comments you might have either by email at marybeth@tlta.com or by fax at 512.472.5931, no later than Friday, January 21. Click here to view the summary from Tom and the proposal.

During the fall, we asked for your input on P-53. The overwhelming majority of you said that you supported the current rule, but believed it needed to be clarified or modified. Based on that, we are making every effort to not only preserve this rule, but also to clarify and strengthen it. The goal is to have a rule that is clear, understandable, enforceable and fair - both for those governed by it and for those regulating it. By negotiating a workable revision, we hope to avoid a potential legislative change that could be sought by others and jeopardize the entire rule.

As always, we appreciate your continued support of TLTA and its leadership as we work through these difficult issues on your behalf.   

Sincerely,
 

Terry Grantham
TLTA President