Noteworthy – New Year’s Resolution

Most of us start the New Year with a resolution for ourselves. We set a goal to eat healthy, exercise more, or maybe to find a better work-life balance.  Personally, I need to do all of the above!  At Fortune Title we also take this time to reflect on the past year and set goals for the next year.  So what is in store for Fortune Title in 2017? Digital Facelift We have grown a lot over the past year, entering new markets and expanding existing ones.  As a result, we have decided it’s time for a digital facelift.  Over the next year we will be updating our website and expanding our digital presence.  We’ve already started generating ideas for our new look and have engaged some very talented companies to assist us with this project.  Keep an eye out for a new and improved www.fortunetitle.net! Improving Our Process Our growth has also provided us with an opportunity to revisit our processes.  As part of our Best Practices Self-Assessment we documented pretty much every process in our company.  While the main purpose of this was to meet the needs of the Vendor Management programs of our clients, it also provided a lot of insight into our day to day operations.  Over the next year we are reviewing the newer features of our software programs, interviewing new staff members, and finding more efficient ways for us to get our job done. We are constantly looking for ways to improve ourselves and are always looking for innovative technologies and fresh ideas to provide the best experience we can for everyone we...

Ask Nick – Serving a Riparian Grant

Q. Our title search shows a riparian grant issued to a prior owner and included in the legal description of the deeded property, and the subsequent mortgage. Do we need to include the State of NJ as a defendant for notice purposes due to the riparian grant? My understanding is that since this is a grant (as opposed to a license that would require a new application, etc.) and the grant is effectively assigned by virtue of the mortgage, the State has already divested itself of its interest and would not need to be a defendant. A. The riparian grant from the State of New Jersey is a transfer of the property covered by the grant from the State of New Jersey to the upland owner. There is no need to include the State of New Jersey in your action. You do, however, need to include the legal description of the Grant as shown in the legal description contained in the Mortgage.   Under no circumstances is Fortune Title Agency, Inc. or any of its employees giving any legal advice.  The Ask Nick Q’s and A’s are based on situations that the company has experienced and is sharing with the public for informational purposes only.  Always contact your attorney for any legal...

Noteworthy – Triple Play Realtor® Convention & Trade Expo Recap

This year’s Triple Play Realtor® Convention & Trade Expo was held last week at the Atlantic City Convention Center in Atlantic City, NJ.  Thousands of Realtors, brokers, appraisers and other real estate professionals gathered at the largest annual real estate convention and trade show of its kind in the United States. Participants traveled from across the country and Canada to learn about the newest and most exciting developments in real estate products and services. Over 500 Realtors stopped by our booth to play roulette with Fortune Title Agency. We appreciate those of you who gambled with our Hershey’s® Kisses and we had over 200 winners of our Breakfast/Lunch prize! Our biggest winner was Kevin Wallace from MLS Direct Full Service Real Estate in Cherry Hill, NJ. He won our Johnnie Walker Collection containing a bottle of Black Label, Gold Label Reserve, Platinum Label, and Blue Label. For all those who missed this great Convention here are some hot topics that I felt were important and informational. Millennials There was a large focus on how to market to and better understand the upcoming wave of millennial buyers and sellers. Some key facts: Millennials include 80 million people born between 1980 and 1995 32% of them are homebuyers at this point Millennials will be 75% of the workforce by 2025 89% expressed a stronger likelihood that they would buy from companies that support specific social issues What Millennial Buyers look for in an Agent: Flexible work schedules Education on the home-buying process Technology Agents communicate the way Millennials want in the new digital era Upfront expectations/no surprises- Millennials do a lot of self-education/research through...

Fortune Fact

It’s puppy season!!!  As you may or may not know, Fortune Title is a dog friendly office. If you do a quick search online, you will see many articles lauding the benefits of pets in the office. Improved morale, reduced stress and stress-related diseases such as heart disease and diabetes, and reduced employee absenteeism are a few of the positive effects. Fortune employees can attest to this firsthand, as we feel our spirits rise and can’t help smiling when we feel that little nuzzle at our ankles. Our Fortune Family of furry friends has grown this year; employees have acquired Charlie (a Havanese), Mia and Jeter (Mal-Shis), Stella (a Beagle mix), and Petey (a mutt; DNA test pending)! And the most recent editions are four newborn puppies, currently nameless, who came into this world just in time for the holidays! We hope these newbies will soon join the other pups that trot around spreading joy through our...

Ask Nick – “Gifts” from the Past

We would like to thank our colleagues for sending in questions for our title guru, Nick Timpanaro. We value your ongoing support and participation. Sometimes, a question is generated within our office and we need to appeal to our underwriter; even Nick has to Ask sometimes! Q: We have a very interesting file where the foreclosed party is buying back the property. It is my belief that ALL the judgments, mortgages, and liens reattach to the property, and the owner accepts the property subject to those liens, (except the Mortgage that was foreclosed). Can we insure this property subject to ALL the liens, judgments and the second Mortgage, or would we insist on them all being paid prior to closing? A: You are correct.  All the junior liens (mortgages, judgments, etc.) that were divested through the foreclosure will re-attach. If the re-acquisition will be financed with a purchase-money mortgage, it may be assumed that prior liens which re-attach will be subordinate to the new purchase money mortgage.  Regardless, these liens should be reflected as such in Schedule B, Part II (Exceptions) of the loan policy, as you could still take exception for those liens that re-attach.  A “creditors’ rights” exception should also be added to Schedule B of the policy.   Under no circumstances is Fortune Title Agency, Inc. or any of its employees giving any legal advice.  The Ask Nick Q’s and A’s are based on situations that the company has experienced and is sharing with the public for informational purposes only.  Always contact your attorney for any legal...