Forms and Documents
Lien Waiver / Owner Affidavit Forms:
For insurance regarding priority of conveyance by seller to proposed insured owner over potential liens for labor, services or materials, including surveyors, architects, engineers and rental equipment (herein "liens") of seller, or priority of proposed insured lender's deed of trust (once recorded) over said liens of seller and/or construction borrower, receipt of applicable NCLTA form (or substantially similar form approved by Company counsel prior to closing), completed and executed by all required parties in compliance with the applicable form's instructions regarding same, as follows:
For projects where labor, services or materials are first contracted for BEFORE APRIL 1, 2013, or projects where no lien agent is required by NC law:
NCLTA Form 1,
if no recent construction or addition of improvements on land, no executory contracts for improvements on land and no construction loan by signing owner or borrower is contemplated;
NCLTA Form 2,
if construction on the land was recently completed;
NCLTA Form 3,
if construction is in process or immediately contemplated (for loan, including construction financing).
For projects where labor, services or materials are first contracted for APRIL 1, 2013, OR LATER, wherein a lien agent has been appointed:
NCLTA Form 3, if construction is in process or immediately contemplated (for loan, including construction financing).
NCLTA Form 3, if construction is in process or immediately contemplated (for loan, including construction financing).
For projects where a lien agent has been appointed and construction has been completed within the last 120 days, is contemplated, or is currently underway:
NCLTA Form 5, Owner Affidavit and Indemnity Agreement when construction has been completed, is contemplated or currently underway and a mechanics lien agent has been appointed (in conjunction with NCLTA Forms 6 and NCLTA Form 7);
NCLTA Form 5, Owner Affidavit and Indemnity Agreement when construction has been completed, is contemplated or currently underway and a mechanics lien agent has been appointed (in conjunction with NCLTA Forms 6 and NCLTA Form 7);
NCLTA Form 6,
for waiver and release of lien rights by Potential Lien Claimants having filed notice(s) to lien agents (in conjunction with> NCLTA Form 5);
NCLTA Form 7,
for subordination of lien rights by Potential Lien Claimants having filed notice(s) to lien agents to any deed of trust to be insured (in conjunction with > NCLTA Form 5) .
In addition, if the proposed purchaser will be obtaining combined purchase and construction financing from proposed insured lender as a part of the transaction to be insured where labor, services, or material are first contracted for BEFORE April 1, 2013, or where no lien agent is required by NC law, proposed purchaser (construction loan borrower) must also provide duly completed and executed NCLTA Form 3.
In addition, if the proposed purchaser will be obtaining combined purchase and construction financing from proposed insured lender as a part of the transaction to be insured where labor, services, or material are first contracted for BEFORE April 1, 2013, or where no lien agent is required by NC law, proposed purchaser (construction loan borrower) must also provide duly completed and executed NCLTA Form 3.
News
NEW Updated Power of Attorney Forms Effective 1-1-2018
A new statute that impacts Power of Attorney forms has gone into effect. Updated forms are available here:
http://www.docpreponline.com/ customerforms/default.aspx? loginredir=http://www. northcarolina.ctt.com/ login.asp?redir2=articles.asp
IMPORTANT: ADDRESS CHANGE
Please discard any old self-addressed envelopes and update your records to our new, more secure postal box addresses:
6325 Falls of Neuse Rd
Ste 35-239
Raleigh, NC 27615
(919) 399-3993 Phone
(919) 400-9393 Fax
8116 S. Tryon St, Ste B3-265
Charlotte, NC 28273
(704) 659-7598 Fax
(704) 307-2933 Phone
3912 Battleground Ave
Ste 112-336
Greensboro, NC 27410
(336) 701-3399 Phone
(336) 447-3349 Fax
CityofOaksTitle@gmail.com
2018 CLE Seminars Registration is now open. More information here:
https://www.northcarolina.ctt.com/ seminar_info_201712.asp
Totaling to over $16,000*,
our combined 2016 donations made a huge difference in our communities. Thank you.
http://www.cityofoakstitle.com/ 2016donations.htm
New!
Publications to share with your clients:
- Why You Need Owner's Title Insurance
- Why You Need Lender's Insurance on a Refinance
- ALTA Homeowners Policy - Compare the Advantages
- 2016 TRID Calendar (Know Before You Close)
- Five Things Escrow Agents Need to Know
- Five Things Lenders Need to Know
- What is the Consumer Financial Protection Bureau (CFPB)?
- What to Expect at Settlement (Escrow/Closing)
May was Pet Cancer Awareness Month!
Thank you for helping us raise a sizeable donation for Wally's Smile and the Blue Buffalo Foundation for Pet Cancer Awareness and Research. We couldn't have done it without you!
IMPORTANT: RATE CHANGE
As of April 1, 2016:
We are required to comply with rate changes filed with the North Carolina Department of Insurance. If your closing is scheduled after April 1, 2016, please let us know so we may provide you with correct premium amounts.
http://ratecalculator.fnf.com
May 2, 2015
We understand COMPLIANCE is important to you and your customers.
City of Oaks Title's efforts in this area MEET or EXCEED industry standards and provide significant assurance concerning a lender's compliance responsibilities for the selection and monitoring of third-party providers required by regulations of the Office of the Comptroller of the Currency (OCC), the Consumer Financial Protection Bureau (CFPB) and other state and federal regulatory agencies.
If you touch consumer funds in any way, you are going to be affected by Dodd-Frank Act and the Consumer Financial Protection Bureau (CFPB).
Read an introduction to ALTA Best Practices here: http://www.northcarolina.ctt.com/ bestpractices/default.asp
Read more about our compliance standards and the strength of our underwriter, Chicago Title here:
www.chicagotitleconnection.com/ Images2014/PDF/CFPB_Compliance.pdf
November 25, 2014
Ouch! Revaluation, the process of reappraising all properties for tax purposes, can affect you. Learn more here, and see also the article links at the bottom of the page:
http://charmeck.org/mecklenburg/
county/assessorsoffice/reval/
Pages/default.aspx
March 27, 2014
Link added: ALTA Best Practices - Attorney Addition - Information to help North Carolina attorneys learn about and adopt "Best Practices" consistent with the ALTA initiative and pertaining to the Dodd-Frank Act, the Consumer Financial Protection Bureau (CFPB) and potential "vetting" companies.
http://www.northcarolina.ctt.com/alta/
February 2014
The North Carolina Land Title Association recently updated NCLTA Forms 5, 6 and 7. More information about these forms (including a redline comparison version of the changes to Forms 5, 6 and 7) is available on the NCLTA website at http://www.nclta.org/forms.
October 30, 2013
A new Resource is created:
A county-by-county list of Register of Deeds and Tax lookups.
Click here to begin utilizing
this handy resource!
