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October 2011 | Volume 4 • Number 8
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Update from ATG Short Sale Coordination Department
Your Partner in Short Sales
Since launching the Short Sale Coordination Department in early 2011, our experienced Short Sale Coordination professionals have been hard at work helping attorneys and their clients complete the administrative tasks involved in obtaining short sale approval.
Short sales are most successful when a team effort is made by real estate professionals (including attorneys, real estate agents, coordinators, and title company professionals) and the parties to collect legible and error-free documentation and respond to the short sale lender's documentation requests in a timely way. Help improve this team effort and increase your clients' chances of obtaining short sale approval by reading the following valuable information about the short sale approval process:
Let us take care of the administrative tasks so you can focus on representing your client. Please feel free to contact us at shortsales@atgf.com or 312.752.1190 with questions or to learn more about our services. We look forward to working with you! Sincerely, Karen G. Courtney
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ATTORNEYS | Practice Notes
CASENOTES
Illinois
Ethics: In re Pisula — When a title insurance agent and an underwriter enter into a principal/agent relationship, the agent owes a fiduciary duty to the underwriter. Money owed to the underwriter must be kept in a segregated account and promptly delivered, pursuant to Rule 1.15 of the Illinois Rules of Professional Conduct.
Indiana
Decedents: Kappel v Kappel — A surviving spouse is entitled to $25,000 from the estate of his or her deceased spouse; a petition for the allowance is not restricted to the nine-month limit to which other claims against the estate are restricted.
Wisconsin
Foreclosure: Wachovia Mortgage, FSB v Dallas — A lender is entitled to foreclose on a person's property interest when the lender discharges the debt on that interest by a subsequent loan.
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ATG MEMBERS | Underwriters' Bulletin
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PROCEDURAL UPDATES
Title Agents and Rule 1.15 - The In re Pisula case raises issues related to those closing accounts and provides some answers to questions ATG agents have been asking. REMINDER: Order a Title Search - ATG mandates title searches by approved search providers when members issue ATG policies (see Regulation No. 3: Title Search Requirements). Our Order a Title Search page provides the resources you need to meet this requirement. Choose from our staff who can search select counties for you or from a large selection of approved members and independent providers in Illinois, Indiana, and Wisconsin.
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IN THE NEWS | ATG Office Relocation, Join ALTA Free
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WHAT'S NEW | Member, CLE, Process, and Trust Services
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[Last update: 10-28-11]
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