DESPITE THE CORONAVIRUS CRISIS, OUR TEAM CONTINUES TO CONDUCT SAFE SETTLEMENTS.
CLIENTS, REALTORS AND LENDERS APPRECIATE THAT THEIR TRANSACTIONS ARE ABLE TO PROCEED, AS PLANNED, IN A CLEAN, SAFE ENVIRONMENT.
“Smooth transaction all around, especially going through these tough times! … Shulman Rogers made it happen swiftly and safely.” – Jared Maites, REALTOR®
“While everyday in this business seems to present new challenges, I am always appreciative that I have you to work with to make it just a bit easier . . . your professionalism, timeliness, responsiveness, all of it is honestly unmatched anywhere else.”— Angie Georgilas, Apex Home Loans
The Residential Settlement Practice Group provides you with skilled, experienced and reassuring assistance through the entire settlement process. Our settlement team understands that purchasing and refinancing a home are the largest financial transactions most people are ever involved in. We are here to help before, during and after closing.
Our settlement attorneys include Fellows of the American College of Real Estate Lawyers, past and present Chairs of the Bar Association of Montgomery County’s Real Estate Section, and some of the most experienced real estate attorneys in the area. Our settlement paralegals are also among the most highly regarded settlement professionals in the area. Shulman Rogers is an agent for Fidelity National Title Group and First American Title Insurance Company. Our settlement attorneys and paralegals are licensed title producers in Maryland, the District of Columbia and Virginia.
In addition to the residential title services listed above, we also represent parties (including buyers, sellers, real estate brokers, and title agents) in disputes arising out of real estate transactions. These representations encompass contract defaults, commission disputes, and regulatory and ethical compliance.
Our Services
Ensuring that the terms of the contract or loan commitment are followed and accurately reflected in the final settlement documents.
Researching the land records and reviewing the property title to be certain all liens, mortgages, judgments, and other legal matters are properly addressed prior to settlement.
Reviewing the survey to be certain any encroachments, easements or other survey matters are properly addressed prior to settlement.
Acting as escrow agent and making sure that all of the money being distributed in the transaction is properly allocated.
Preparing the deed, ALTA Settlement Statement and other settlement documents.
Supervising the execution of the settlement documents and conducting the closing.
Recording documents in the land records necessary to transfer the property.
Acting as a title insurance agent, issuing title insurance to owners and lenders.
As you may know, the outbreak of COVID-19 has resulted in the issuance of several Executive Orders by Governor Hogan. Today, Governor Hogan issued a stay-at-home order (Executive Order 20-03-30-01) that requires, among other things, Non-Essential Businesses to remain closed to the general public and Maryland residents to stay in their homes or places of residence except to conduct or participate in Essential Activities, which includes obtaining necessary supplies or services for one’s self or household.
As you may know, the Department of Homeland Security’s Cybersecurity and Infrastructure Security Agency (CISA) issued guidance on operations and services that should continue during the COVID-19 response to ensure the continuity of functions critical to public health and safety, as well as economic and national security. In response to the efforts of the real estate industry, on March 28, 2020, CISA released updated guidance (Version 2.0) that now includes “Residential and commercial real estate services, including settlement services” within the list of essential services.
As you may know, any funds required for a real estate transaction must be “good funds,” meaning that the funds must be deposited in the settlement company’s escrow account at the time of closing and immediately available for disbursement after settlement is complete.
In response to the financial burdens experienced by individuals and businesses because of COVID-19, DC has passed emergency legislation providing various relief for DC residents and businesses, including a moratorium on evictions and foreclosures.
Due to reports of lenders delaying funding of purchase money loans, Maryland’s Commissioner of Financial Regulation has recently issued guidance reminding consumer mortgage lenders that Section §7-109(b) of the Real Property Article of the Maryland Code requires lenders to disburse the proceeds of purchase money loans to the settlement agent on or before the date of closing. Lenders who fail to comply with the Wet Settlement Act are prohibited from charging interest on the loan for the first 30 days following the date of closing.
Title is your ownership rights to your property; title insurance is a policy that protects your investment and your property rights.
There are two types of title insurance: owner’s policies and lender’s policies. An owner’s policy is purchased by you, the homebuyer, and while it’s optional, it is the best way to protect your interests. It protects you, your trustees, your inheritors and your beneficiaries. A lender’s policy is paid for by you and is almost always required by the lender. It protects the lender’s interest.
A home is one of the largest investments you will make in your life. Owner’s title insurance protects your property from legal claims, a one-time fee that covers your and your heirs. Under the policy, you are protected against any unforeseeable errors in the title, including forgery, fraud and human error.
The American Land Title Association’s Home Closing 101 provides additional resources to explain the closing process from start to finish.
Due to reports of lenders delaying funding of purchase money loans, Maryland’s Commissioner of Financial Regulation has recently issued guidance reminding consumer mortgage lenders that Section §7-109(b) of the Real Property Article of the Maryland Code requires lenders to disburse the proceeds of purchase money loans to the settlement agent on or before the date of closing. Lenders who fail to comply with the Wet Settlement Act are prohibited from charging interest on the loan for the first 30 days following the date of closing.
In response to the financial burdens experienced by individuals and businesses because of COVID-19, DC has passed emergency legislation providing various relief for DC residents and businesses, including a moratorium on evictions and foreclosures.
As you may know, the Department of Homeland Security’s Cybersecurity and Infrastructure Security Agency (CISA) issued guidance on operations and services that should continue during the COVID-19 response to ensure the continuity of functions critical to public health and safety, as well as economic and national security. In response to the efforts of the real estate industry, on March 28, 2020, CISA released updated guidance (Version 2.0) that now includes “Residential and commercial real estate services, including settlement services” within the list of essential services.
As you may know, the outbreak of COVID-19 has resulted in the issuance of several Executive Orders by Governor Hogan. Today, Governor Hogan issued a stay-at-home order (Executive Order 20-03-30-01) that requires, among other things, Non-Essential Businesses to remain closed to the general public and Maryland residents to stay in their homes or places of residence except to conduct or participate in Essential Activities, which includes obtaining necessary supplies or services for one’s self or household.
As you may know, any funds required for a real estate transaction must be “good funds,” meaning that the funds must be deposited in the settlement company’s escrow account at the time of closing and immediately available for disbursement after settlement is complete.
Shulman Rogers’ Danielle Dolch was recently quoted in The Washington Post on the trend of “love letters” from buyers to sellers involved in residential […]
Two Shulman Rogers’ attorneys, Sarah Cline and Danielle Dolch, will serve as faculty for an upcoming continuing legal education seminar “Title Insurance Coverage: What […]
