Roland Love Testifies Before House Committee on Business and Industry
By TLTA Staff
July 26, 2017
On Tuesday, July 25, TLTA member Roland Love testified before the Texas House Committee on Business and Industry on mechanic's liens and their impact on the title industry.
"Basically, the title industry, at a closing, is wanting to make sure there's a good, clean transfer and that the voluntary lien that secures the debt is a good lien," said Love. "And so, it's important to us to make sure that everyone has been paid and that there's clear title to be transferred...From our perspective, in the title industry, it's all about notice. And that really is the basis of Texas property laws. If you think about it, title companies are the ultimate collectors. They collect ad valorem taxes, they collect HOAs, they get liens paid; and if the notice is there, in the transfer of title and the creation of a voluntary lien, it'll get taken care of."
In other special session news, no title insurance issues have been added to the call; however, legislators are quickly working through the items on Gov. Abbott's list. TLTA will keep you posted as issues of interest to the title insurance industry are added to the special session agenda.
Read "The Texas Senate Had a Whirlwind Special Session Weekend" (Texas Tribune) »