August 2009 Minutes
Real Estate Practices Section Council
August 14, 2009
Minutes
The Real Estate Practices Section Council met August 14, 2009, via conference call. Participating members included Chairperson Susan Stewart, Paul Dillingham, Charles Hedgepath, Bill Higgins, and Jeff Vinzani. Katie Staden represented the Bar.
Chairperson Stewart called the meeting to order.
A motion was made and seconded to approve the February 23, 2009, minutes. Due to the absence of a quorum, absent members will vote on the meeting’s motions via email.
The first order of business was the 2009-10 Real Estate Practices Section goals. After discussion, a motion was made and seconded to adopt the following goals:
Real Estate Practices Section
FY2009-2010 Goals and Objectives
Susan Stewart, Chairperson
1. Continue to update members on information pertaining to seminars, legislative updates, etc., through the Section list serve and website.
2. Present an informative CLE program at the 2010 Bar Convention.
3. Continue to conduct CLE seminars on commercial and residential real estate issues.
4. Continue to monitor ongoing legislation, relevant appellate cases and report the information to the members through the Section list serve.
5. Monitor proposed guidelines regarding best practices for real estate closing attorneys.
6. Continue to work with the Young Lawyers Division on a Real Estate Practices Handbook.
The next order of business was the proposal from the ABA Task Force on the Real Property Curriculum for Law Schools. Ms. Stewart reported that she had forwarded the materials to Professors Spitz and Burkhart for review. The Council agreed to allow the professors more time to comment prior to taking a position.
The next order of business was discussion of H.3986: Mortgages, which would amend 40-5-395 so as to provide, notwithstanding another provision of law, a licensed attorney is not necessary to supervise or conduct any aspect of the refinancing of an existing real estate mortgage including title examination, loan document preparation, closing, or perfecting settlement of the old mortgage and recordation of the new mortgage. It would additionally amend 37-10-102, relating to attorney’s fees for mortgages, so as to make conforming changes. After discussion, a motion was made and seconded to oppose H. 3986. A memo will be prepared and presented to the Board of Governors at its September meeting.
The next order of business was discussion of amicus briefs related to Quail Hill and Carolina Chloride. After discussing both cases, the Council declined to write the briefs.
The next order of business was an ALPS update. Ms. Stewart reported that she met with Bob Wells, Executive Director of the SC Bar, earlier this month. The Council discussed the current insurance issues and expressed a number of concerns including the continuing problem with getting ALPS to include the E&O endorsement in policy renewals, the increasing cost of insurance, and the acquisition of Southern Title as a title underwriter. The Council expressed concern about passing on a fifty dollar assessment to clients and that policy’s compliance with RESPA. The Council agreed that it would like to address its concerns at the September meeting of the Board of Governors.
The Council briefly discussed the Massachusetts Bar Association and its development of its own title agency. Ms. Stewart relayed that the SC Bar had done a study about insurance options in 1994 and it concluded that at the time ALPS was the best option. The Council discussed conducting another study.
The next order of business was an update on the Task Force on Closing Responsibilities. Ms. Stewart reported that she had been in contact with Dave Whitener, Chair of the Task Force on Closing Responsibilities. Ms. Stewart shared a May 2009 letter with the Council. After much discussion and in light of continued concern, the Council agreed to respond via letter. Mr. Higgins will draft the letter on behalf of the Council.
The next order of business was an update on the Real Estate/Young Lawyers Division Handbook. Ms. Stewart reported that the majority of the written material had been submitted and was being reviewed by Professor Burkhart. The finished product will be posted on the SC Bar website.
The final order of business was an update on the 2010 SC Bar Convention. The Real Estate Section seminar has been scheduled for 8:30 to 11:45 a.m. on Saturday, January 23, 2010. Ms. Stewart reported that the agenda had been completed.
Time Topic Speaker
8:30-9:30 a.m. Foreclosure & Fraud Jennifer Reuben
Cynthia Blair
9:30-10:00 a.m. Nuts & Bolts of Short Sales Cathy Olivetti
10:15-11:15 a.m. Bankruptcy Issues Judge Beth Burris
Michelle Vieira
11:15-11:45 a.m. Legislative Update Senator Tom Davis
Rep. Jenny Horne
A Council dinner will be scheduled the evening before the seminar. Ms. Staden will forward the details to the Council members.
There being no further business, the meeting was adjourned.
August 14, 2009
Minutes
The Real Estate Practices Section Council met August 14, 2009, via conference call. Participating members included Chairperson Susan Stewart, Paul Dillingham, Charles Hedgepath, Bill Higgins, and Jeff Vinzani. Katie Staden represented the Bar.
Chairperson Stewart called the meeting to order.
A motion was made and seconded to approve the February 23, 2009, minutes. Due to the absence of a quorum, absent members will vote on the meeting’s motions via email.
The first order of business was the 2009-10 Real Estate Practices Section goals. After discussion, a motion was made and seconded to adopt the following goals:
Real Estate Practices Section
FY2009-2010 Goals and Objectives
Susan Stewart, Chairperson
1. Continue to update members on information pertaining to seminars, legislative updates, etc., through the Section list serve and website.
2. Present an informative CLE program at the 2010 Bar Convention.
3. Continue to conduct CLE seminars on commercial and residential real estate issues.
4. Continue to monitor ongoing legislation, relevant appellate cases and report the information to the members through the Section list serve.
5. Monitor proposed guidelines regarding best practices for real estate closing attorneys.
6. Continue to work with the Young Lawyers Division on a Real Estate Practices Handbook.
The next order of business was the proposal from the ABA Task Force on the Real Property Curriculum for Law Schools. Ms. Stewart reported that she had forwarded the materials to Professors Spitz and Burkhart for review. The Council agreed to allow the professors more time to comment prior to taking a position.
The next order of business was discussion of H.3986: Mortgages, which would amend 40-5-395 so as to provide, notwithstanding another provision of law, a licensed attorney is not necessary to supervise or conduct any aspect of the refinancing of an existing real estate mortgage including title examination, loan document preparation, closing, or perfecting settlement of the old mortgage and recordation of the new mortgage. It would additionally amend 37-10-102, relating to attorney’s fees for mortgages, so as to make conforming changes. After discussion, a motion was made and seconded to oppose H. 3986. A memo will be prepared and presented to the Board of Governors at its September meeting.
The next order of business was discussion of amicus briefs related to Quail Hill and Carolina Chloride. After discussing both cases, the Council declined to write the briefs.
The next order of business was an ALPS update. Ms. Stewart reported that she met with Bob Wells, Executive Director of the SC Bar, earlier this month. The Council discussed the current insurance issues and expressed a number of concerns including the continuing problem with getting ALPS to include the E&O endorsement in policy renewals, the increasing cost of insurance, and the acquisition of Southern Title as a title underwriter. The Council expressed concern about passing on a fifty dollar assessment to clients and that policy’s compliance with RESPA. The Council agreed that it would like to address its concerns at the September meeting of the Board of Governors.
The Council briefly discussed the Massachusetts Bar Association and its development of its own title agency. Ms. Stewart relayed that the SC Bar had done a study about insurance options in 1994 and it concluded that at the time ALPS was the best option. The Council discussed conducting another study.
The next order of business was an update on the Task Force on Closing Responsibilities. Ms. Stewart reported that she had been in contact with Dave Whitener, Chair of the Task Force on Closing Responsibilities. Ms. Stewart shared a May 2009 letter with the Council. After much discussion and in light of continued concern, the Council agreed to respond via letter. Mr. Higgins will draft the letter on behalf of the Council.
The next order of business was an update on the Real Estate/Young Lawyers Division Handbook. Ms. Stewart reported that the majority of the written material had been submitted and was being reviewed by Professor Burkhart. The finished product will be posted on the SC Bar website.
The final order of business was an update on the 2010 SC Bar Convention. The Real Estate Section seminar has been scheduled for 8:30 to 11:45 a.m. on Saturday, January 23, 2010. Ms. Stewart reported that the agenda had been completed.
Time Topic Speaker
8:30-9:30 a.m. Foreclosure & Fraud Jennifer Reuben
Cynthia Blair
9:30-10:00 a.m. Nuts & Bolts of Short Sales Cathy Olivetti
10:15-11:15 a.m. Bankruptcy Issues Judge Beth Burris
Michelle Vieira
11:15-11:45 a.m. Legislative Update Senator Tom Davis
Rep. Jenny Horne
A Council dinner will be scheduled the evening before the seminar. Ms. Staden will forward the details to the Council members.
There being no further business, the meeting was adjourned.