UPCOMING EVENTS


MLTA Board of Directors Meeting
Tuesday, June 21, 2016
Details
MN PREP - Metro Chapter
Thursday, June 23, 2016
Details
2016 Annual Convention
August 4-5, 2016
Details
MLTA Board of Directors Meeting
Thursday, August 4, 2016
Details
MN PREP - Metro Chapter
Thursday, September 8, 2016
Details
MN PREP - Metro Chapter
Thursday, November 10, 2016
Details


 

ANNOUNCEMENTS

Lenders
Tell us about your plans for TRID implementation.


FIRPTA
Effective August 1, 2015, the Minnesota Association of Realtors Purchase Agreement specifically addresses FIRPTA (Foreign Investment in Real Property Tax Act) and inquires whether the seller is a foreign person. In the same spirit, the MLTA has adopted standardized FIRPTA forms for the exclusive use of MLTA members. FIRPTA applies to every sale of U.S. real property. The applicable tax is as much as 15% of the gross sale price (not net proceeds). In many cases, a tax exemption or reduction will apply, most likely being that the seller is a U.S. Person as defined in the Act. This should be documented in all cases. If an exemption does not apply, then a withholding will be required. The MLTA forms include a Q&A, along with certifications and affidavits pertaining to seller status as well as buyer withholding requirements.
MLTA's standardized FIRPTA forms are available for members only and can be found in the documents section of the MLTA website once logged in.
If you have questions about the legal or tax consequences of FIRPTA, contact your legal counsel or tax advisor.  If you have questions about the forms, please contact Chad Novak or Lisa Brecount:
Chad Novak
Commercial Partners Title, LLC
612-643-1050
chadn@cptitle.com
Lisa Brecount
Burnet Title
952-886-6770
lisa.brecount@burnettitle.com


ALTA's Title Action Network (TAN) is an industry-wide resource designed to make advocating for our profession quick and easy. 

Membership is free and it only takes minutes to join. 

All employees of title insurance companies, title agents, independent abstracters, title searchers, real estate attorneys, etc. are encouraged to sign up!

Click here to sign up.

 

WELCOME NEW MEMBERS


Bridge Title, LLC
Bloomington, MN

Central Land Title
Buffalo, MN

Edgewater
Excelsior, MN

Elite Title & Escrow Corp.
Baxter, MN

Executive Title
Bloomington, MN

Executive Title
Edina, MN

Executive Title
Forest Lake, MN

Executive Title
Golden Valley, MN

Executive Title
Maple Grove, MN

Executive Title
Savage, MN

Executive Title
Wayzata, MN

Global Closing & Title Services, LLC
Eagan, MN

Home Title, Inc.
Eden Prairie, MN

Modern Title
Andover, MN

Old Masters Title, Inc.
Little Canada, MN

Quality Title of Wilmar, LLC
Willmar, MN



JOIN TODAY


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