Electronic Remittance and Electronic Submission - Exciting News!

CATIC agents are now able to electronically submit policies, and remit payment, to CATIC. Faster, better, stronger!

In the face of ever-increasing fraud schemes, these options allow you to operate in a more secure environment. To issue a policy, simply click the Submit button. To remit payment, simply use an ACH push. No more mail. No more postage costs. No more checks. No more hassle!

Find more information here, along with tutorial videos breaking down the process.

To learn more about this exciting option, contact Katie Caron via email or in the VATC Office, 800.649.3366 or 802.876.6800.

Note: CATIC has received multiple compliance attorney opinion letters stating that these features are fully compliant with the Rules of Professional Conduct.
COVID-19 Phishing Emails: Common Scams That You Should Know About
Although they needed no help, the COVID-19 pandemic has provided excellent cover for the bad guys to infiltrate your business. Think phishing attacks and more. The most common scams pertain to bogus relief checks, fictitious online ads for vaccines, and sellers that had stockpiles of “hot-ticket” items, such as disinfectant wipes, that they were trying to unload.

While these are still active scams eighteen months after Covid started, the current uptick in scams relates to fake emails about proof of vaccination, being laid off, and health organizations that request personal information.

DON"T BECOME A VICTIM! Click here to read more.
1031 Like-Kind Exchanges

One of the most important aspects of any Exchange is the "safety of your funds." You need a Qualified Intermediary that you can trust.

CATIC Exchange will deposit the Exchanger's funds in a segregated, interest-bearing, liquid escrow account at an FDIC-insured depository. Funds will be co-commingled with operating accounts or used for investment purposes. In addition, CATIC Exchange maintains a fidelity bond and professional liability insurance.

Click here for Types of Exchanges handled by CATIC Exchange. For additional information email or call 860.904.2108.
Lau's Corner & Title Tips

Property Descriptions: What/What Not to Include:

Andy and Liz have been suggesting that people shorten their property descriptions because: (a) the longer the description, the greater the chance for typographical error; (b) the more reference clauses there are, the greater the chance to omit what might be important (in context) quotation marks and/or the greater the chance to resurrect old ROFR that were otherwise extinguished or have lapsed. Sometimes less is more.

  1. A legal description needs to comply with Title Standard 10.1.
  2. A legal description which simply provides: "All and the same that land and premises that Grantor acquired from ____ by deed ____" can be sufficient to pass marketable title if the referenced deed (or a deed in the chain of title) contains a Title Standard compliant description.
  3. Reciting/reproducing a full metes and bounds description is NOT necessary if the deed description refers to a lot on a recorded plat, e.g. "Being all of Lot 3 on a survey recorded at Map Slide 34". Typing a full metes and bounds description is not only redundant but, invariably, lengthy reproduction results in typographical errors which result in confusion/title problems.
  4. Encumbrances and appurtenant easements be carried forward in the new deed, e.g. "The property is subject to: ____. The property is benefited by: __________".
  5. While referencing the entire chain of title is certainly helpful to future searchers, re-typing the chain often results in scrivener error.
  6. Shortening descriptions is not a mandate - it is merely a recommendation to reduce the number of problems that arise from very long deeds which, when re-typed, contain errors.

Are you retyping property descriptions? Click here to learn more about using a snipping tool to copy and paste pdfs into PrepExpress Online®.

PrepExpress Online®: Introduction and Refresher - Previously Recorded Webinar

This webinar will introduce new users to PrepExpress Online®, as well as highlight new features which have been incorporated into the latest version for existing users. The webinar will include navigation of PE, Closing Disclosures, ALTA Settlement/Disbursement Statements, etc. Click here to watch this previously recorded webinar by CATIC.