CA: Introduces TOD Deed Legislation

The Senate Appropriations Committe of the California General Assembly recently held a hearing regarding a bill introduced in the California Assembly that would establish a revocable transfer on death deed in the state. The proposed bill is known as AB 724. The bill would, until January 1, 2015, create the revocable transfer on death deed,…

IL: CPL Requirements Have Changed

Under Illinois law, title insurance companies and agents will not be permitted to act as an escrow agent in a commercial or residential closing involving less than $2 million dollars unless a closing protection letter is issued. The bill mandates the use of closing protection letters (CPLs) for transactions under $2 million dollars and where…