Real Estate News

What is a 593-C Form?

Jan 30, 2017 / Real Estate News

You probably already know that each state has its own set of real estate rules and regulations. California requires that income tax for the sale of a home  be withheld.  We wanted to share with…

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Facebook + RESPA

Jan 30, 2017 / Important Information

One of our priorities here at Glen Oaks Escrow is to ensure we keep you informed about topics affecting our industry! So, we wanted to share with you a few details about a pretty hot topic:…

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Important Escrow Terms: What is a Contingency?

Jan 20, 2017 / Escrow

There’s certain content that becomes dated, and there’s other content that remains a staple in our industry. Terms and concepts within the world of escrow definitely fall into the ‘staple’ camp. Years back, we wrote…

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CAL FIRPTA WITHHOLDING

Jan 9, 2017 / Escrow

The Foreign Investment in Property Tax Act (FIRPTA) is a certificate of non-foreign status. FIRPTA addresses the disposition of U.S. real property interest by a foreign person. Section 1445 of the Internal Revenue Code requires that…

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SB 407 Water Conservation Update

Dec 19, 2016 / Escrow

Starting January 1, 2017, water conservation retrofitting goes statewide for single family dwellings. All homes built on or before January 1, 1994 are required to update to complying water conserving fixtures on or before January…

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FinCEN Targets Money Laundering Schemes

Aug 26, 2016 / Important Information

On July 26, 2016, the Financial Crimes Enforcement Network (“FinCEN”), a bureau of the United States Department of Treasury, issued a Geographical Targeting Order (“GTO”) requiring title insurers, their subsidiaries and agents, to report certain…

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Owner’s Policy Update

Jan 25, 2016 / CFPB

The CFPB is requiring that the owner’s policy be disclosed as “optional” due to the fact that unlike the lender’s policy which is required by most institutional lenders in the country, an owner’s title insurance…

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