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Connect with Minnesota’s Settlement Services Professionals!
Get involved with the Minnesota Land Title Association.
Our membership is made up of around 150 fantastic organizations, totaling nearly 400 individuals and affiliates! Our events and communication tools extend our reach even further, connecting with various allied professionals like county recorders, abstractors and beyond. Tap into the MLTA community of title insurance and settlement services professionals in the state, and check out the amazing vendor opportunities below!
Best Practices for Title and Settlement Agents
The Minnesota Land Title Association encourages all members to adopt and implement industry best practices that promote high standards of service, compliance, and consumer protection. A foundational resource for these standards is provided by the American Land Title Association (ALTA).
ALTA has developed a comprehensive framework of Best Practices specifically designed for title insurance and settlement companies. These voluntary standards help title professionals create documented policies and procedures covering areas such as licensing, escrow trust account controls, information security, settlement procedures, title policy production, professional liability coverage, and consumer complaint resolution.
By aligning member practices with ALTA’s Best Practices framework, Minnesota title professionals can improve operational consistency, enhance regulatory compliance, and better serve lenders and consumers.
For more information and access to resources on ALTA’s Best Practices, visit the ALTA Best Practices page: alta.org/policies-and-standards/best-practices/
Membership
If you are in a profession related to the title industry, you can join us as an associate! An associate membership opens the door to a group of professionals who provide top-notch services to the land title world.
At MLTA, we keep you in the loop and help you stay on top of things. Whether it’s through education, legislation or just keeping you updated on the latest happenings, we’ve got you covered. Join us.
Convention
Every August, we come together for something truly special – MLTA’s Annual Convention! Over two exciting days, we dive into top-notch education sessions and industry updates, led by both local experts and national presenters. You’ll also have plenty of chances to mingle with fellow attendees and forge valuable connections. From our banquet and social hour to the golf outing, there’s something for everyone. With senior-level decision-makers from across the state in attendance, the networking opportunities are simply unbeatable. We can’t wait to see you there!
Website
The MLTA website is a valuable resource, providing current information that industry professionals need to stay on top of this ever-changing profession. Consider a banner advertisement; your company will be noticed by all those who regularly visit the site.
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:
Chad Novak
Westcor Land Title Insurance Company
7221 W 79th Street, Suite 207
Overland Park, KS 66204
(321) 370-6945