Carolina Update

The most recent issue of the Carolina Update newsletter issued by the North Carolina Land Title Association.

Frequently Asked Questions

  1. How can I work in North Carolina as a settlement agent, escrow agent, or abstracter?
  2. How can I be licensed to work as a title agent in North Carolina?
  3. Are any materials available for studying for the title agent licensing exam?
  4. I want to purchase/sell property in North Carolina. How do I go about this?
  5. What is the difference between an Owner's Title Policy and a Lender's Title Policy?
  6. I have a problem with the title to my land in North Carolina. What should I do?
  7. How can I advertise with NC Land Title Association?
  8. How can I exhibit at the NC Land Title Association convention?
  9. How can I become a member of NC Land Title Association?
  10. Which title insurance policy forms are approved by the NC Department of Insurance?
  11. We need a copy of a policy that was issued by the NC Land Title Insurance AGENCY.
  12. How can I find title insurance rates in North Carolina?
  1. How can I work in North Carolina as a settlement agent, escrow agent, or abstracter?
    North Carolina works under the "approved attorney system" wherein the authorized practice of law in the state has licensed attorneys, or paralegals under the direct supervision of a licensed attorney, conducting real estate closings. There are no abstracting or escrow companies, per se.
  2. How can I be licensed to work as a title agent in North Carolina?
    You may work as a title agent if you are a licensed attorney through the North Carolina State Bar or a licensed (non-attorney) title agent through the North Carolina Department of Insurance.
    • North Carolina Department of Insurance - Title Agent Licensing Examination
      http://www.ncdoi.com/asd/asd_applications_forms.asp
    • Test Applications and Candidate Information
      Title Insurance Agent Exam Content Outline
      (pp. 30-31 of "NC Insurance Supplement, Examination Content Outlines")
      • Effective January 1, 2008, the third-party administrator of the NC title agent licensing exam, Promissor, has changed its name to Pearson VUE. Title agent licensing exam information, candidate handbook, content outline, and test reservation information are available from: http://www.asisvcs.com/publications/publist.cgi?st=34&ind=12
  3. Are any materials available for studying for the title agent licensing exam?
    NCLTA publishes a 36-page Study Guide for the Title Insurance Agent Licensing Exam. The copyrighted Study Guide, updated annually, is available for purchase in an Adobe Acrobat file on a CD-Rom. Non-member price is $90, including sales tax and shipping. The Member price is $10.68, including sales tax. Please use the Order Form to order your CD-Rom copy.
    In addition, there is a Study Outline available from the Insurance Department's exam application brochure, and the following key publications:
    • The Title Insurance Regulatory Survey is the most comprehensive collection of regulatory information and practices of the title industry available. American Land Title Association (ALTA), in cooperation with Kirkpatrick & Lockhart LLP, has assembled all the pertinent information on how the title business is conducted in each state and the District of Columbia. 6 vol. set of binders plus searchable CD. Each geographic volume may be ordered separately or as a set. ALTA Members $410 per vol/Non-Members $510 per vol. plus S&H.
      http://www.alta.org/publications/tirs.cfm
    • Webster's Real Estate Law in North Carolina, Fifth Edition ©1999
      Patrick K. Hetrick, James B. McLaughlin, Jr.
      Lawyers in North Carolina have long relied upon Webster's Real Estate Law in North Carolina as their authoritative reference. This classic handbook remains the single most important source for real estate law in the state. It presents the North Carolina courts' holdings on virtually thousands of questions concerning property law and contains updated standard real estate forms approved by the North Carolina Bar Association, and a new Table of Cases. The book also covers the fundamental principles of the law of real property as developed and defined by North Carolina legislation and judicial opinion. Publisher: Michie. 3 vol., hardbound, with current supplement. ISBN 0327049278. Price $205.00
      http://bookstore.lexis.com/bookstore/catalog?action=product&prod_id=6786&cat_id=J&pcat_id=92&pub_id=2
    • North Carolina Real Estate with Forms, 2d (North Carolina Practice Series)
      By Nancy Short Ferguson, Edmund T. Urban, A. Grant Whitney, Jr.
      Copyright: 2009
      Two hardbound volumes provide a detailed and comprehensive treatment of commercial and residential real estate transactions with forms. Forms provided for Contracts, Deed & Closing Documents, including North Carolina Bar Association and American Land Title Association Forms. A quick index at the front of this work and detailed general index at the back allow you to find subjects quickly and easily. A table of North Carolina General Statutes refers the user to the text where the statute is discussed. Price $219 for set or individual volumes $110.
      http://west.thomson.com/productdetail/148936/40125567/productdetail.aspx#
  4. I want to purchase/sell property in North Carolina. How do I go about this?
    In addition to working with a realtor, real estate agent, mortgage company (mortgage bank or lender), it is strongly advisable to obtain an attorney to represent you in the closing process. You may obtain names of reputable attorneys who specialize in real estate law from NC Land Title Association (919-861-5584), from the NC Bar Association Real Property Section (919-677-0561), or the NC State Bar at http://www.ncbar.gov/public/findalawyer.asp. The American Land Title Association has issued a primer on the home closing process to help people with this complex issue at http://www.homeclosing101.org.
  5. What is the difference between an Owner's Title Policy and a Lender's Title Policy?
    A Lender's policy is required by the Lender to protect the Lender against problems that may not have been uncovered during a title search prior to sale/exchange of property. An Owner's policy is optional and protects you, the Owner, against problems that may not have been uncovered during a title search prior to sale/exchange of property. It is recommended to have both types of coverage. Title insurance is a ONE TIME charge but the policy protects your interests as long as you own the property.
  6. I have a problem with the title to my land in North Carolina. What should I do?
    If you have an existing title policy, contact your title insurance company pursuant to the instructions listed in the policy. If you cannot locate your title policy, contact the attorney who conducted your closing. If you do not know the title company or your closing attorney, you may contact an attorney who or a title company that is located in or near the county where the land is located. (See question above for locating attorney referrals.) If, after considering the facts of your case, they may help you file a claim or at least best advise you of your next course of action.
  7. How can I advertise with NC Land Title Association?
    NC Land Title Association accepts advertising in its Quarterly newsletter, Carolina Update, and in its annual Directory of Members. The newsletter rate card and directory rate card detail our advertising rates.
  8. How can I exhibit at the NC Land Title Association convention?
    NC Land Title Association does not have a trade show, per se, at its annual convention. However, it does accept sponsorships for various events at the convention which include an EXCLUSIVE exhibiting opportunity for the company sponsoring that particular event.
  9. How can I become a member of NC Land Title Association?
    There are several categories of membership: Underwriter, Agency, Attorney, and Associate (individual and company).
  10. Which title insurance policy forms are approved by the NC Department of Insurance?
    On behalf of its title underwriter members, NC Land Title Association submits generic title policy forms approved by the American Land Title Association (ALTA) to the NC Department of Insurance for approval. This saves both the Department staff from having to review multiple copies of each form from each title underwriter company while saving title insurance company staff redundant work as well. Listings of the title policy forms, endorsements, commitments, and closing protection letters submitted and approved are available from the following links:
  11. We need a copy of a policy that was issued by the NC Land Title Insurance AGENCY.
    The NC Land Title ASSOCIATION does not issue title policies. It is a trade association of title companies who are members of the Association. NC Land Title AGENCY changed its name to TitleSouth and is located in Franklin, Tennessee.
  12. How can I find title insurance rates in North Carolina?
    North Carolina has a Title Insurance Rating Bureau that is a separate entity from the NC Land Title Association that does not have rate filing authority.
    North Carolina Title Insurance Rating Bureau (NCTIRB) files new comprehensive rate structure with Department of Insurance, effective July 1, 2007.

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