A covenant of further assurance (NY state section 253 article 4) is the related promise that the grantor will do whatever is necessary to remove a defect associated with the title, such as an encumbrance if it arises. And if the problem is not fixed, damages will be awarded. The covenant may also include what steps must be taken to
Amid this COVID-19 pandemic and the shelter-at-home orders that have been issued to control its effects, many businesses have experienced tremendous hardships as a result. By now you have probably heard of some of the federal government’s efforts to help small business owners. There are several programs out there. The one that got my attention is the Payroll Protection Program
At MacGregor Abstract, our staff members are experienced, seasoned, and knowledgeable, and we make it our business to remain up-to-date on the latest changes within the industry, including updates involving changes due to the current circumstances. We continue to pride ourselves in our ability to adapt quickly to problems and embrace our instinct to find unique solutions to tricky questions.
MacGregor Abstract Shares an Update on the Current Operational Status of the New York Title Insurance Industry
In the wake of the novel Coronavirus outbreak, many businesses and departments are temporarily shutting their doors to keep up with an ever-expanding list of new regulations and restrictions. At MacGregor, our staff members are experienced, seasoned, and knowledgeable, and we make it our business to remain up-to-date on the latest changes within the industry, including updates involving changes due
At leading abstract company, MacGregor, we’re committed to keeping our staff, clients and partners safe during this time and wanted to share some information we’ve come across about the COVID-19 outbreak. With Coronavirus affecting individuals all over the world, it can be difficult to determine the right facts to take away from the mass media coverage. Marc Serota (a
Reader – please take note – there is a change in the Financial Crimes Enforcement Network’s (FinCen) Geographical Targeting Order (GTO). Now that I have your attention, I am sorry to say that I will now disappoint you with the limited scope of information that I am at liberty to convey. The terms of the GTO are confidential. That’s right,
It was on Monday, September 28, 2015 that I wrote about Nassau County’s plan to significantly increase the fees they will charge to record land records. We all were alerted as to what the increases would be, but we had no idea when they would become effective. Yesterday afternoon, I received notice that Nassau County will make these increases effective
A little more than two weeks ago, Nassau County implemented an astronomical increase in the fees they charge for recording documents that are submitted into the land records. Not only was the increase HUGE, but they only gave the general public, title insurance companies included, 48 hours notice. This sudden increase in fees caused significant problems and complications for many
I usually take the time to completely digest new items and write about them myself. Right now, my schedule does not allow me to do that. In order to disseminate the information promptly, I am coping a news item just distributed by one of my favorite title insurance companies. So, here it is: ALERT: 10% FIRPTA—New 15% Withholding Under current
The New York real estate industry has seen a flurry of changes recently. Electronic recording is now available in many counties. The CFPB has recently issued new closing requirements. Local municipalities seem to be trying to (in part) make up for shortfalls in their budgets by increasing fees associated with our industry on a regular basis. Are you comfortable yet?