TREC Contract Changes

Recorded, February 15, 2023 |  Reg. Fee:  Member - $40, Non-member - $54  |  CE Credits:   1.0 Hr. Escrow, 1.0 Hr. MCLE
TREC Contract Changes

The goal of this course is to familiarize title insurance professionals with the new changes in the TREC contracts forms. We will go over the new changes and what their impact on the title insurance industry is.

Upon completion of the course, attendees should:
• Have a general understanding of the revisions to existing forms.
• Be aware that paragraph of the basic contract has been changed to give greater disclosure of where the buyer’s funds are coming from.
• Be aware that the Special Provisions section in paragraph 11 has been rewritten to clarify that it is limited to additional informational items only, excluding any additional agreements.
• Have a better understanding of the clarifications made as to the handling of HOA prorations in Paragraph 13.
• Be aware of revisions to the Seller Financing addendum as there is clarification of whether casualty insurance is required and clarification addressing the holding of taxes and insurance in a separate escrow account.
• Be aware of the changes regarding adjustment of contract prices when there is a discrepancy in land under a Farm and Ranch contract. 
• Clearly understand the role of the escrow agent and the contract.

 
Presenters: 
Jamie Westmoreland I First American Title Insurance Company
Mickie Webb I First American Title Insurance Company
 
Pricing:
Member $40
Nonmember $54

CE Credit:
1.0 Escrow Credit
1.0 MCLE Credit


For those new to the topic and/or the title industry. May include basic concepts, definitions, industry history and/or general information.
For more information on TLTA's rating system, please click here.
Under Procedural Rule P-28 II I-6, TDI will not award credit hours for completing the same course more than once per reporting period.

 
When
2/15/2023 10:30 AM - 2/2/2027 11:59 PM
Central Standard Time
Where
Online Webinar, On demand

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