LendersTell us about your plans for TRID implementation.
Click here to take MLTA's TRID Implementation Lender Survey
FIRPTAEffective 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 10% of the gross sale price (not net proceeds). In most cases, an exemption 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.
Share Your Expertise! Volunteer for a Committee.Changing regulations and new technology are impacting how title insurance and other settlement professionals conduct business. If you would like to assist MLTA and its members respond to these changes, please consider volunteering your time and expertise! Current areas of need and related contact information:
Education Committee Chair and/or Members
Update materials for closing and examination courses; Plan annual Spring Seminar.
Mark Goodman, Commecial Partners Title, (952) 337-2470, firstname.lastname@example.org
Technology Committee Chair
Monitor the MLTA website/database; develop social media presence; manage MLTA computer equipment.
Richard Welshons, DCA Title, (651) 304-3501, email@example.com
Share Your News!
Share articles and member news with peers! Submit information for inclusion in MLTA's quarterly e-newsletter TitleGram.
Click here to e-mail your information
CFPB / TRIDCFPB Implementation Resources
Sign up for ALTA's Title Action Network
ALTA's Title Action Network (TAN) is open to all employees of title insurance companies, title agents, independent abstracters, title searchers, real estate attorneys, etc.
- TAN is free & takes only seconds to join!
- TAN promotes the value of the land title industry to state and federal policymakers.
- TAN doesn't bog down your inbox, and action alerts are easy-to-understand.
- TAN focuses on issues that are important to you and your business.
WELCOME NEW MEMBERS
Attorneys Title Group, LLC
Vadnais Heights, MN
Lawyers Title Services, LLC
North American Title Insurance Company
Renee Haglund Tierney
Eden Prairie, MN
SRL Law, PLLC
Thomton, Sperry, Jensen & Keithahn, Ltd.
Title Resources Guaranty Company
Oak Brook , IL