The goal of this course is to familiarize title insurance professionals with new changes recently made to the TREC contracts forms. In addition to changing the existing forms, TREC also adopted two new forms. We will go over the new changes and forms and discuss their impact on the title insurance industry.
Upon completion of this course, attendees should:
- Have a general understanding of the revisions to existing forms
- Be aware that paragraph 2 has changed to clarify what property is included and what is excluded from the sale
- Have an understanding of the changes to the earnest money paragraph
- Have a better understanding of the buyer’s option to terminate the contract
- Be aware of revisions to addendums, such as property subject to a mandatory membership in a Property Owners Association
- Clearly understand the role of the escrow agent and the contract
- Have a better understanding of the seller’s right to request the option money at any time
Brian J. Watts, First American Title Insurance Company
1.0 Escrow Credit (expires 1/20/23)
For those new to the topic and/or the title industry. May include basic concepts, definitions, industry history and/or general information.
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