Issue No.253, November 24, 2021
EVENTS
INDUSTRY
NJSPLS Contributes to New Land Surveying Degree at Rowan University
As many licensed land surveyors in the state of New Jersey are nearing retirement age, the demand for the next generation of land surveying professionals is high. In New Jersey, the only land surveying degree program is located in the northern part of the state. That is, until now.

Florida Reminds Title Insurance Agencies of the Title Administrative Surcharge Due in January
FL | The Florida Department of Financial Services issues a reminder that the Title Administrative Surcharge is due during the month of January. Subsection 624.501(27)(e)2, F.S., requires any title insurance agency licensed in Florida each year to remit an administrative surcharge of $200 to the Florida Department of Financial Services. This payment must be made on or by January 30th.

Wyoming Issues Bulletin Regarding Possible Insurance Licensing Telephone Scam
A common fraud scheme has been adapted to target people who hold insurance licenses. In this scheme, scam artists identify themselves as Department of Insurance staff or investigators and notify the licensee that they are under investigation, that their license may be suspended or revoked, or that an arrest warrant has been issued in the licensee’s name. They will then request money to “resolve the problem”.

Real estate industry cheers proposed SALT cap increase 
The Long Island real estate industry joined business and trade groups in praising the inclusion of an increase in the controversial SALT cap in the Build Back Better legislation passed by the U.S. House of Representatives last week. After months of negotiations, the $10,000 cap on state and local tax deductions that had been imposed as part of the federal Tax Cuts and Jobs Act in 2017 would be increased to $80,000 if the proposed Build Back Better bill is passed by the Senate.

Hey, I want to buy your house: Homeowners besieged by unsolicited offers
Jennifer Folden-Nissen's three-bedroom, Victorian-style house in Duluth, Ga., isn't for sale. But that hasn't stopped a guy calling himself Henry from phoning her at least once a week. She says the pitch is always the same: "I want to buy your house. I'm willing to pay cash. Today."

How E-Recording Helped Keep The Title Industry Humming During Covid
The coronavirus pandemic caught everyone by surprise in 2020, with parents adjusting to kids being at home, and businesses quickly adapting to a remote workforce. Initially, it was a period of confusion and chaos. But some industries weren’t caught quite so flat-footed thanks to technologies they had adopted long before the pandemic.

LEGAL
California Panel Says Title Insurer Owes Sales Tax On Leases
A California appeals court said the state can require a title insurance company to pay sales tax on office equipment leases even though title insurers usually pay an annual tax on...

Read More [Free registration required to read]
South Dakota—the new Lichtenstein? What the Pandora Papers Say about US Fiscal Paradises
In mythology, Pandora opened her box and released all manner of evil into the world. Just as Prometheus warned against what might come, the recent revelations of the Pandora Papers — a leak of millions of documents from 14 offshore service providers, including law firms and trust companies — were presaged by previous leaks from the International Consortium of Investigative Journalists, most notably the Panama Papers and the Paradise Papers.

Title Aspects of Foreclosure Sales: Clearing Confusion
The circumstances which can cause dismay or confusion on the part of a successful foreclosure sale bidder not infrequently arise as follows: after the property is struck down, the bidder wisely orders a foreclosure title search. The goal, of course, is to clarify the title being conveyed, list any objections or infirmities, and provide such insurance as is available. That search, however, will often raise a host of issues. When some or all of these are related to counsel for the foreclosing plaintiff, the response is often that the title being conveyed is what the bidder bargained for and no remedial action need be taken. What then?

A Subtle New Pitfall For Mezzanine Loan Borrowers
Commercial real estate financing structures often include not only mortgage loans but also mezzanine loans. These latter loans are secured by pledges of ownership interests in the mortgage borrower. If the mezzanine loan defaults, the mezzanine lender can foreclose on the ownership interests in the mortgage borrower. Through that foreclosure, the mezzanine lender, or sometimes a third party, will acquire ownership of the mortgage borrower, keeping the mortgage in place.

Ever Wonder About the Difference Between a Lawyer vs. Attorney?
When it comes to law firms and legal representation, is there a difference when selecting a lawyer vs. attorney? If you've been looking for a lawyer or attorney near you, chances are you'll view those terms as interchangeable. But you'd be wrong because there is an actual difference.

WORLD
Dry riverbed cannot be registered
A portion of the river bed beside my lot has dried up forming a dry land. I have been in open, notorious, public, continuous and adverse possession of the said dry land for 30 years now. I have been planting it with corn and other vegetation like string beans and okra on a regular basis. Considering the length of time that I have been in exclusive possession of the said dry land, can I apply it for land registration?

Colombia is pitting two vulnerable groups against each other. At stake is the Amazon.
Theirs was a uniquely Colombian story, a family hit by opposing sides of the country’s conflict: He had been forced from his home by government-backed paramilitaries. She had been displaced by rebel fighters. But when they moved here, the country was on the cusp of peace. They found a patch of nearly 185 acres of cheap, rich soil in the Montebello community. They built a home, a farm, a fresh start.

TECHNOLOGY
If You Like Decentraland, I’ve Got Some Florida Swampland to Sell You
The 28th-largest cryptocurrency, according to CoinMarketCap, is Decentraland, a metaverse platform that allows individuals to buy and sell virtual land. Considering its digital real estate angle, I have to ask: has Decentraland become the modern version of the Florida swampland scam? Maybe. Maybe not. Here’s why.

This Company Wants To Turn Your Mortgage Into An NFT
Mortgage lender LoanSnap recently announced they had minted the first NFT mortgages in existence, using their Bacon Protocol to wrap seven mortgage liens into tokens collectively worth $1.5 million.

Algorithms are everywhere. Here's why you should care
They're used for everything from unlocking your phone with your face to deciding what videos you see on TikTok to updating your Google Maps route to avoid a freeway accident on your way to work.

PEOPLE IN THE NEWS
Cops Follow Money Trail in Mystery Death of Colorado Real Estate Broker
A Colorado couple accused of stealing more than $2 million worth of real estate from a local man, then possibly planning to flee to non-extradition countries such as Cuba, Venezuela, or the African archipelago of Cape Verde, have been named as suspects in his mysterious death.

When granted a 'Make-A-Wish,' this 13-year-old chose to feed his city's homeless for a year
When Adeola "Abraham" Olagbegi discovered his bone marrow transplant was successful, he was granted any wish of his choice. But the 13-year-old's wish was not a trip across the world or the newest gaming console. Instead, he chose to feed homeless people in his hometown of Jackson, Mississippi, for a year.

Title Agents Take Business to the Next Level
For agents interested in growing their business by expanding into multiple states, we’re here to make the process simple and profitable. We offer you one point of contact to streamline your options and solutions.

OTHER TRENDING NEWS
This wealthy dog is 'selling' a Miami mansion that Madonna once owned
Gunther the German shepherd spent a recent morning playing with his tennis ball, rolling in the grass, slobbering a little and napping a lot. Later, he had a "meeting" with the real estate agents selling his Miami mansion that his handlers bought from Madonna.

Woman Creates A Chair That Allows Needy Pets To Sit By You While You Work
Since the start of the COVID-19 pandemic, many people have been working from home. It seems everyone has a home office these days and employers are allowing more flexibility when it comes to location. For many people working from home, it allows them more time to spend with their pets. Naturally, our furry friends are so excited to have us home and don’t want to leave our side for one minute. While this is great, it can also be problematic.

Passive Agressive Gifts for People You Hate 2021
In a better world, no one would feel like gift-giving was an unavoidable obligation, and certainly no one would find themselves resentfully shopping for someone they actively dislike, but we’re not in that world yet, and across the globe in December (or November, especially when Hanukkah comes early), people resentfully head to the mall to try to select something acceptable yet inexpensive for their mother-in-law, their neighbor, their obnoxious cousin, or their least-favorite coworker who they unfortunately drew for the office Secret Santa.